- Any accounting work you have done related to your investment activities are tax deductible. For example, if you meet with your accountant to discuss investments and he suggests an investment or investments that would best fit your financial situation, then the accounting fee you were charged for their consultation time is deductible.
- The financial advisory newsletters that you use to help you make your investment decisions are tax deductible. These advisory newsletters do not have to give specific trade instructions to qualify as a deduction as long as the advice conveys information that can help in making an investment decision.
- Software package fees that provide investment advice by performing stock analysis, option analysis, real estate property analysis or any other type of investment analysis are deductible. These types of software packages are typically Internet based, and the fees are usually charged on a quarterly basis.
- Any seminars, books, DVDs, tapes, private mentoring and other education materials that facilitate your efforts on how to make investment decisions are deductible. In addition, travel expenses like airline tickets, hotel room and food that are associated with your investment advisory education are also deductible.
- Just as accounting investment advisory fees are deductible, so are legal investment advisory fees. For example, if you get legal advice on the legal ramifications of a particular investment or legal advice on how you should structure your investment business to best protect your assets, then the fees incurred for this advice can be deducted from your tax return.
Keep in mind these investment advisory fees are tax deductible as miscellaneous itemized tax deductions on Form 1040, Schedule A, by investors.
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