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Home / Expert Opinion / Keeping Your Balance: Check bad debts before compliance season begins

Keeping Your Balance: Check bad debts before compliance season begins

Many companies consider it common practice to estimate the amount of accounts receivable at year end that they believe to be uncollectible.  This amount is then “written off” as bad debt expense.  In recent years the service has placed an increased scrutiny on this deduction, reminding taxpayers that an estimate of uncollectible accounts receivable is ...