Q: Hi Tom,

Can I deduct my $8,000 Provision fee under investment expenses on my tax return?

Thanks,

Richard

A: Yes, you can. However, there might be a better place for you to deduct this. If you have a business or rental real estate, you may get a better deduction by including it as an expense under one of these categories. Your ProVision tax strategist can certainly guide you in the right direction as he/she knows your situation much better than I do.