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.
Legal fees and certain other professional fees for estate planning or trust administration may be deductible for federal income tax purposes in some circumstances. This article reviews the deductibility of fees for individuals (on IRS Form 1040) and for trusts (IRS Form 1041).Deductions for Individuals.owever, fees relating to estate planning may be deductible when incurred for: (1) the production or collection of income; (2) the management, conservation or maintenance of property held for the production of income; or (3) tax advice and tax planning.