I am self employed and I provide services. I have outstanding invoices from clients, who have not paid me and they might never do. How do I claim the unpaid services in my taxes?
What would it happen if I claim it as a bad debt in my taxes and down the road I get paid part or all of what they owe me?
Thank you
if you are using the cash basis of accounting you never reported those items as income so you are not entitled to any deduction.
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