Debt Collection Agent or Debt Write-off?

Debt collection agent or write off a bad debt, which is the way to go? Read on for help in preparing for the decision.

The end of the year is approaching with tax season just around the corner. Your tax professional will soon ask for a list of your accounts receivable. The question will be what you want to do about bad debts. Should you write off a bad debt and take a bad debt reduction? Or, do you send it to a debt collection agent? This will give you an understanding of two common options.  Continue reading “Debt Collection Agent or Debt Write-off?”

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