Investment Expense Fees Capped

[Burke]

Not really any difference as a rule. At least as far as the tax treatment of them.

[MANDAN]

Broker fees

So if a broker manages client's pension, say about $700,000 and charge 1%, $7000 per year. Client take out 4%, 28000 per year. Do you deduct $7000 on line 23, schedule A, or deduct 7000x0.04=2800 on his schedule A?

[Burke]

Sounds like you may be talking about a 401K? Pre-tax account fees taken out of the account by the manager are not deductible.