Yes, the executor fee in the state of NJ is taxable. However, it is only 5% taxable and up to $200,000 dollars.
Nope.... Can only really ask for 10% upto $1,000.00 before work startes. CA
Income tax attorney fees vary. Some attorneys will charge a flat rate for a specific service, for example an attorney may charge a fee of 5% of your debt. However, it is more common for attorneys to charge an hourly fee on top of requiring a retainer. On average, one should expect to pay a retainer of $1000-$2000 and an hourly fee of $200-$250.
These links provide a little insight. www.mncourts.gov/lprb/91bbarts/bb1191.html www.mncourts.gov/lprb/fc01/fc061101.html
The term "retainership basis" refers to the payment of a fixed yearly or monthly fee to a service provider who is not actually an employee of the company paying the fee. The retainer ensures that the company involved is able to utilise the service provider on a "need to" basis.
Debit retainer fee expenseCredit cash / bank
An annual retainer fee is a flat fee that a client pays in advance to retain the services of a professional, such as a lawyer or consultant, for a specified period of time. This fee ensures priority service and availability throughout the year.
Yes, the executor fee in the state of NJ is taxable. However, it is only 5% taxable and up to $200,000 dollars.
a retainer fee
Yes
Lose them............fast.
This answer depends on the laws in your area or the area/location you are asking about.
Taxable gross income includes professional fees paid to you.
The best thing to do is to look in your local newspaper. It will have a listing for all the lawyers in your neighborhood and it will show on the ad if they have a retainer fee or not.
Yes, the Doc Fee is actually nothing more than extra dealer profit and as such is taxable.
The fee paid to the executor is considered taxable income.
It is considered income. That means it is subject to city, state and federal income tax.