Corporate Lawsuits are business deductions, unless it's personal. Robert Wood, of Wood LLP in San Francisco

Rob Wood calls in to discuss his recent article titled "Corporate Lawsuits are business expenses, but some are personal". In his article, Wood examines the Fifth Circuit’s recent decision in James Cavanaugh's Jani-King case, illustrating that some corporate lawsuits are too personal to qualify for deductible business expense treatment, even when the company is named as a defendant. He explains the differences between a business and personal tax deduction.