Category: Nonbusiness Bad Debt

Bad Debts vs Theft Loss

Chris Moss CPA Tax Attorney

Welcome to TaxView with Chris Moss CPA Have you ever loaned money to someone who didn’t pay you back? Did you know that if you can’t get your money back you could at least write the debt off for taxes? It’s called a “Nonbusiness Bad Debt” (NBD) and it is deductible as a short term …

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