income

rklessly · ‎May 9, 2021

I have a single member LLC. One of my clients did not pay their invoices totaling $1859.33. Is there a deduction I can take to help offset the loss? Of course I'm not counting the $1859.33 as income.

rjs · ‎May 9, 2021

Since you are not reporting the unpaid amount as income, you have already deducted it from your taxable income. You can't deduct it again. You are not paying tax on the money that you did not receive.

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rjs · ‎May 9, 2021

Since you are not reporting the unpaid amount as income, you have already deducted it from your taxable income. You can't deduct it again. You are not paying tax on the money that you did not receive.