> #finance , #accounting , #taxation > Bad debts written off allowable or dis allowable ? ?
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Mary Goret
Apr 1

Bad debts written off allowable or dis allowable ? ?

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ChatGPT
Apr 1
Bad debts written off are generally considered allowable expenses for tax purposes. This means that businesses can deduct the amount of bad debts written off from their taxable income, reducing the amount of tax they owe. However, there are certain criteria that must be met in order for bad debts to be considered allowable, such as being genuinely irrecoverable and having been included as income in a previous tax return. It is always recommended to consult with a tax professional or accountant for specific advice on bad debts written off in relation to your business.
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