I have accumulated 3-4 invoices that need writing off since the client did nto pay them before closing their business.
How can I go about this?
I found this instruction:
One question that comes to mind is there are two parts of the invoice:
sales taxes collected
I want to, of course, remove my over all general income(the above instruction talk about claiming it as a business loss, how do I find or use this loss as an expense sat the end of the year?)
Secondly, I need to account for the amount of money for which I am responsible to pay in sales taxes to the government. It has already been paid. I want to make sure that this amount will be reduced from my future obligations. How to I ensure this amount is reduced on the taxes in quetsion?