Bad Debts, Travel / Meals, Vehicle, Interest, Insurance
Free IRS Enrolled Agent SEE Part 2 (Businesses) lesson in Business Tax Preparation. 17 min read, ~2,589 words.
Business bad debts use the specific charge-off method (§166); deductible only when previously included in income (accrual) or representing loan basis; nonbusiness bad debts are short-term capital losses, wholly worthless only. Travel away from home requires overnight stay; business meals are 50% in 2025 (the 100% restaurant rule expired 12/31/2022)...
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What this lesson covers
- Content
- Example 1
- Example 2
- Common Mistakes
- Key Takeaways
- Exam Shortcuts
Learning objectives
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