Can you deduct your bad business debt this year? According to the IRS, the debt must be closely related to your trade or business. This type of bad debt is typically involves unpaid customer invoices, but it can also include business-related loans. To qualify as a deduction, these two statements must be true:
Call for help determining whether or not you can deduct your bad debt as a business expense.
As always, feel free to pass this Tip along to friends, and reach out if you need help with your personal tax and finance situation.
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