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re: Charge-off Debt
Posted on 5/5/17 at 2:55 pm to Mossive
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.
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