Professional Fees & Taxes: Knowing the What, When and How for Tax Deductibility

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Canadian income tax legislation on whether professional fees related to divorce and separation can be deducted is a complex area. This is not only because the rules have changed over the years, but because the answer depends on which party pays them and for what services. Determining the timing of deduction is also difficult. 

Blair Corkum

CPA, CA, R.F.P., CFP®, CDFA®, CFDS, CLU, CHS

Blair is an hourly-based fee-for-service financial planner and financial divorce professional operating as Blair Corkum Financial Planning Inc. in Charlottetown, PEI. With over 40 years’ experience in tax and finance, Blair assists separated couples and their lawyers or mediators, as well as PEI Supreme Court judges and family court staff, with determination of income for child and spousal support, equalization of assets, and related tax and financial issues.

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Professional Fees & Taxes: Knowing the What, When and How for Tax Deductibility
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