3 Ways You Might Be Eligible for a Tax Write-Off

  • Dave Walgren

    In the Minneapolis Sunday paper an article titled “Five tax breaks you might be missing out on” their was a tax tip titled “Investment related fees”. It stated, “A typical client who uses a financial planner or investment advisor can deduct IRA custodial fees, investment advisor fees, some fees for safety deposit boxes and even transportation costs to your investment adviser’s office. Investment expenses must exceed 2 percent of the taxpayer’s adjusted gross income.

    My CPA told me that Advisory Fees related to an IRA account are not deductible. Can you clarify your
    position??Where in the tax code does it allow for expenses that are in a tax deferred account to be claimed as a tax deduction???