Hoping to Take a Bad Debt Deduction? Don’t Count on It

Nothing’s more upsetting than getting shafted by a person or business that can’t or won’t pay its debts.

To add insult to injury, it’s not all that easy to write off the bad debt.

To come out a winner, you have to know the IRS’s complex rules.

That’s where we come in. We’ll show you how to navigate the system and claim bad-debt deductions that will stand up to an audit.

All will be explained when you read my new article titled Tax Tips: Hoping to Take a Bad Debt Deduction? Don’t Count on It!

Three ways our fact-filled article can help you:

1. We’ll explain the tax law’s three allowable bad-debt deductions. The fact is, the IRS’s rules governing debt deductions are (no surprise!) complicated. But fear not. We’ll explain everything in easy-to-understand language when you read the full article.
2. We’ll tell you the difference between a business bad debt and a personal bad debt. To put it simply, a business bad debt produces an ordinary loss, and a personal bad debt produces a short-term capital loss. You’ll get the whole story when you read the full article.
3. You’ll learn about the important Fred Cooper case. This recent court case shows what’s involved when you claim a bad-debt deduction under both the business and personal rules. We’ll give you all the details when you read the full article.