Our latest blog post is based on an article recently published in Accounting Today by Senior Editor Roger Russell in which he discusses a new Tax Court case, Sarvak v. IRS, T.C. Memo, that illustrates the difficulty in determining when debt becomes worthless. 

https://www.sharrardmcgee.com/blog.php

Your CPA at Sharrard, McGee & Co., PA is available to answer any questions you may have about deducting a business bad debt. Call us at (336)884-0410 in High Point and (336) 272-9777 in Greensboro.