Can you write off legal fees?

ANSWER

The BIDaWIZ Team's Answer:

Yes: legal expenses paid in connection with a business

transaction, or for the purpose of preserving business

property, goodwill, reputation, equity, etc. are deductible. 

Non-business legel fees are deductible, on Schedule A, 

of the Form 1040, as a misc. itemized deduction, if the legal

fees were incurred for the production of income, or in connection 

with the management, or preservation, of income producing 

property. See Reg. 1.212-1(k).