An Accrual Customer Debt Becomes Partly Worthless: Document the Specific Chargeoff
A general credit-loss reserve and a deductible business bad debt follow different rules.
TOPIC COLLECTION
Deductions
A focused reading path from The Profit Planning Journal. Start with the question closest to your situation, then review the linked sources and documentation steps.
Business Equipment Is Destroyed: Measure the Loss From Adjusted Basis
Replacement price, insured value, and deductible casualty loss can be three different numbers.
Donating Food Inventory Requires a Basis and Cost-of-Goods-Sold Reconciliation
The enhanced contribution formula does not permit a second deduction for costs already recovered.
Trade Association Dues Can Include Nondeductible Lobbying Costs
Keep the organization’s allocation notice and separate legislative advocacy from ordinary membership services.