sole proprietor- can I write off money that I was owed but wasn't paid
It finally happened. I did work and was not paid for it. I am guessing there is nothing I can do tax wise, correct? Just the court system, I suppose.
01403
1 Replies
VolvoGirl
Level 15
Dec 28, 2023 11:31:32 AM
You can't deduct income you never received. You will just have less income to be taxed on. You take the loss by still deducting all your expenses but not your time or labor.