Do you run your business on an accrual basis? Are there a couple of accounts receivable that are increasingly looking like they won’t pay you? Well then you might be looking for the Bad Business Debt deduction on your taxes!
With this useful tool, you can “write off” bad debt on your taxes, so that you aren’t paying taxes on income that you’re never going to actually get! Useful for stuck-on unpaid customer invoices and some kinds of business-related loans that you just can’t seem to get off the books.
As long as it’s already been included as income or an asset and it’s now worthless, run out and get your bad business debt deduction today!
Terms and conditions may apply, contact your authorized accountant representatives for more information.