- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Charge-off Debt
Posted on 5/5/17 at 10:36 am
Posted on 5/5/17 at 10:36 am
In your opinion is it a good practice to charge-off bad debt, say 120 or 150 days delinquent?
Benefits or disadvantages for chargingoff?
Benefits or disadvantages for chargingoff?
Posted on 5/5/17 at 1:12 pm to Mossive
For tax purposes, are you cash basis or accrual basis?
Posted on 5/5/17 at 2:11 pm to LSUFanHouston
accrual.
is it that much of a tax benefit?
is it that much of a tax benefit?
Posted on 5/5/17 at 2:55 pm to Mossive
quote:
accrual.
is it that much of a tax benefit?
When you are accrual, you are picking up that receivable in income. When you charge it off, you take an expense for the amount you are owed.
So, it's a tax benefit so much as you no longer have to pay tax on the income you never actually received in cash.
Of course, you are still out the cash and your costs incurred.
Popular
Back to top
Follow TigerDroppings for LSU Football News