US Taxes
US Taxes
Out of context: Reply #10
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- randommail0
'bad debt' expenses are deductible.
http://en.wikipedia.org/wiki/Bad…
A bad debt is an amount that is written off by the business as a loss to the business and classified as an expense because the debt owed to the business is unable to be collected, and all reasonable efforts have been exhausted to collect the amount owed. This usually occurs when the debtor has declared bankruptcy or the cost of pursuing further action in an attempt to collect the debt exceeds the debt itself.