My Dr told me that they can not write off uncollected medical accounts on their taxes. This does not seem that it would be true since they are professionals providing a service and the debt is noncollectable.
2007-06-15 11:06:31 · 3 answers · asked by communityinflorida 3 in Business & Finance ➔ Other - Business & Finance
What he is saying is that he cannot take any sort of tax deduction for unpaid medical charges. It shows up as a profit UNTIL he charges them off as uncollectible, at which time he must show that he made sufficient attempts to collect.
During the fiscal year in which he finally removes them from his A/R ledger, those simply show up as reduced income when he files his taxes for the year.
2007-06-15 11:42:55 · answer #1 · answered by acermill 7 · 0⤊ 0⤋
Believe it or not companies can't just "write off" everything.
2007-06-15 18:17:19 · answer #2 · answered by Cristi H 4 · 0⤊ 0⤋
yes they can .. and they can send you to collections
2007-06-15 18:13:35 · answer #3 · answered by lilshorty3088 3 · 0⤊ 0⤋