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Bad Debt |
Also found in: Dictionary/thesaurus, Medical, Legal, Wikipedia, Hutchinson | 0.09 sec. |
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Bad Debt A debt that is not collectable and therefore worthless to the creditor. Notes: Bad personal debts generally aren't deductible.Bad debt A debt that is written off and deemed uncollectible. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| The inference is that, had the taxpayer specifically identified an allowance account (or portion thereof) as offsetting the bad debt in question--as in Brandtjen & Kluge, Inc. It is far more expensive to write off a bad debt than it is to pay for trade credit insurance, which generally costs less than 1 percent of sales, according to research from Marsh. said its fourth-quarter charges may exceed $1 billion and its loss from continuing operations will widen from the third quarter because of bad debt. |
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Bad Debt
