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Broden, Mickelsen, LLP
2600 State St, Dallas, TX 75204, USA
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New tax rules for lawyers: Valuate work-in-progress
With the annual tax filing deadline on April 30, it is important to realize that the 2017 federal budget introduced a significant taxation change for professionals, including lawyers. This change now affects how non-employee lawyers are required to compute and report their income and requires that an extensive valuation of work-in-progress (WIP) takes place. New tax rules for lawyers: Valuate work-in-progress
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