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If you are an individual who is exempt from Medicare taxes, you still may be subject to the Net Investment Income Tax if you have Net Investment Income and also have modified adjusted gross income over the applicable thresholds.
Answer: The IRS considers investment management fees as expenses for the management of property held for the production of income and allows you to deduct them as a miscellaneous itemized deduction along with other miscellaneous itemized deductions including tax preparation fees.an I deduct financial management fees from my advisor when I file taxes each year? After reading the tax rules that are posted on the IRS site, it seems like I can but I'm still not sure.