How to be Ready to Secure a Business Bad Debt Deduction On Your 2023 Tax Return
From Brokstein & Associates CPAs LLP
Is your business having trouble collecting payments from clients or vendors? You might be able to claim a bad debt deduction on your tax return. But if you hope to take the deduction on your 2023 return, you'll have to get busy, because you must be able to show that you've made a “reasonable” effort to collect the debt.
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