Haven't dealt with retainers in the past. Does anyone know if a 1099 for an attorney should include the full amount of the retainer or just the invoiced portion for the year? Also, if the client files on a cash basis can they include the full retainer as an expense? Thanks!
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The important question here is > is the retainer refundable? Most are not, so issue the 1099 and deduct the expense. Although a prepaid legal expense account may be more appropriate if you are talking about a LARGE retainer.Originally posted by Carrie C View PostThis post is for discussion purposes only and should be verified with other sources before actual use.
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