2017 Bad Debt Deductions 
Fundera
FEBRUARY 16, 2018
Let’s keep going with that example of an invoice created in December 2017 with customer payment actually received in January 2018. An accrual-basis taxpayer would include the amount of the invoice on their 2017 tax return, while a cash-basis taxpayer would include it on their 2018 return. So, wait a minute! Actually, yes!
Fundera
JULY 29, 2016
Tax extensions are handy if you can’t file your taxes by the original filing date or if you’d like more time to work with your accountant to identify deductions and file your return. For instance, you might be able to report “bad debt”—money you’re owed but can’t collect—to the IRS, and get it deducted from your taxes.
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