When running a business like Bigfood Blue White, the food import industry is rife with challenges and with those challenges comes a host of financial burdens that need to be planned and budgeted for ahead of time. Potential criminal accusations can come in many forms and with those accusations comes potentially hefty legal fees for criminal defense. A lot of businesses may have some experience with tax burdens and planning ahead for the myriad of deductions that are available to limit the cost of taxes to a business overall and its bottom line. What a lot of businesses may not have experience in, however, is contemplating the regulatory burdens that can affect a business’ operations. In particular, there has been a prevalent question that bigfood blue white may be asking in relation to their operations. That question is are legal fees for criminal defense tax deductible? In the context of food import, businesses similar to bigfood blue white import substantial amounts of various perishable goods that have varying degrees of maintenance requirements for both temperature and package integrity. In fact, the most popular category of items that make up the import business tend to be seafood and meat related food possibilities. When importing such goods, there sometimes becomes a need to ensure that either the goods are not subject to customs fraud or that the goods themselves are not even subject to potential issues with food safety.
With that in mind, a business would normally plan ahead for a number of different contingencies to ensure that they do not have to worry about any risk for the roaming issues. Sometimes, businesses fail to plan for everything; bigfood blue white may find themselves in the unfortunate position of having to answer whether or not their legal fees for criminal defense are tax deductible. The reason for this is that an accusation of food safety violations that can be classified as criminal can end up costing the business a significant amount of time and effort in dealing with the criminal charges that they have been subject to. While the business may be able to win the criminal case themselves, the costs that may come from the court system could be exorbitant. In the event that the main lawyers for the company are in court for most of the business day, the business may need to contract out to third party outside council to ensure that their day to day functions are still being carried out. The issue becomes “Are legal fees for criminal defense tax deductible?” especially so when you have to consider what the legal issues were that placed you in the criminal facilities in the first place. In the event that those legal issues involved violating an aspect of the food import regulatory scheme that your federal government enforces, the business may not have been able to comply with the regulatory scheme due to aspects of being generally called into court for the entire day. If bigfood blue white was importing processed meat into the country, it is feasible that they were caught in a situation where they were unable to deal with any customs issues since they were spending most of their day in court.
For more information on legal deductions, you can visit IRS.gov.