Write Off Bad Debts

Generally, to deduct a bad debt, you must have previously included the amount in your income or loaned out your cash. If you're a cash method taxpayer, you generally can't take a bad debt deduction for unpaid salaries, wages, rents, fees, interests, dividends, and similar items of taxable income. In this episode, we will learn why you should write off bad debts.

My name is Jamaal “Crypto J” Solomon, founder of J.S. Tax Corporation. The goal of this podcast series to give you REAL tax advice in 7 minutes or less. You literally have no excuses!

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Any taxpayer out there that want to be tax savvy and want to stay a star, and don't have to worry about their tax accountant trying to be all in the tik tok videos, all on the YouTube, dancing... come to J.S. Tax Corporation!"
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