11 Aug Sorry, Bail Is Not Tax Deductible
Even though tax season is far away, if you need to pay for bail, you might be wondering (and hoping) if it is tax deductible. Well, the answer to that is no, bail is not tax deductible. Even though it is a payment being made to the government, it is really a guarantee to the government and court that the person who the bail is for, will go to court when he or she is asked to. This money, if paid without using a bail bond, can be refunded is the person who the bail is for cooperates.
Bail bonds are ideal when a person is unable to front all the money for bail themselves. Bail bond companies like Los Angeles Bail Bond Store Service exist to help individuals post bail so they can get out of jail. That person, or someone on their behalf, will pay a 10% fee to the agency, and the rest is easily taken care of through collateral. The fee is not refunded, but collateral is as long as the person who the bail bond is for goes to court when he or she is ordered to.