What is the definition of a Variable Rate Loan? Variable rate loans are loans that have an interest rate that will fluctuate over time in line with prevailing interest rates. They generally have lower starting interest rates than fixed rate loans, but the interest rate and payment amounts can change over time. Sometimes they are also known as floating rate loans.
1 Contingent attorney fees are not deductible, but non-contingent attorney fees may be deductible. 2  Before deducting these fees, talk to a tax specialist to determine if the fees are deductible based on the details of your case.
The quick and simple answer is that attorney fees for personal legal matters, such as divorce, are not tax deductible. However if your attorney fees are a business expense, then they are fully deductible. The general rule is that you can deduct attorney fee's that you pay for if:1  Trying to produce or collect taxable income. 2  To help determine, collect, or obtain a refund of any tax.owever if your attorney fees are a business expense, then they are fully deductible. The general rule is that you can deduct attorney fee's that you pay for if: 1  Trying to produce or collect taxable income. 2  To help determine, collect, or obtain a refund of any tax.