Specific Charge-Off Method

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August 25, 2024 3 min read Definitions
Specific Charge-Off Method (Bad Debts): Definition and Application
Accounting Finance Taxation Bad Debts Specific Charge-Off Method Tax Deduction Accrual Basis Receivables
The Specific Charge-Off Method for bad debts involves deducting a bad debt when a specific receivable becomes worthless, after exhausting all collection efforts. Accrual basis taxpayers must use this method for tax purposes.
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