Précis: The taxpayer sought to deduct professional fees of roughly $75,000 incurred on the breakup of her marriage and business relationship with her former spouse. After a careful consideration of the law and the salient facts the Court allowed a deduction of roughly 1/3 of the fees claimed.
Richards v. R. – TCC: Taxpayer entitled to deduct roughly 1/3 of professional fees paid on marriage/business breakupREAD MORE »