Write Deadbeat Clients Off
Squeeze some dough out of the clients who stiffed you.
One silver lining in an uncollectable debt situation is that theIRS allows business owners to write off bad debts. Under currentlaw, each individual bad debt must be identified and deducted inthe year in which it becomes partly or totally worthless-afterabout six months. Remember to keep a paper trail-including datedinvoices-showing that you took reasonable steps to collect themoney due you.