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[+] The "A" List - Jan Forster/NC (12 replies)
10/6/2006 9:45:48 AM (2975 views)

Red Light Cameras Exposed Thousands To Identity Theft - David Bloys/TX
10/5/2006 9:07:00 PM (3488 views)

[+] SOT Member in USA Today - David Bloys/TX (3 replies)
10/5/2006 2:24:01 PM (3893 views)

[-] If I see one more post about non-payers.... - George Booth/TX (5 replies)
10/5/2006 12:26:28 PM (2827 views)
Re: If I see one more post about non-payers.... - Scott Perry/PA
10/5/2006 12:51:43 PM (3989 views)
Re: If I see one more post about non-payers.... - George Booth/TX
10/5/2006 1:46:27 PM (3925 views)
Re: If I see one more post about non-payers.... - Robert Franco/OH
10/5/2006 2:04:45 PM (3908 views)

You can't "write off" the uncollected amount unless you do your accounting on an accrual basis, which means that you count the income when you bill it.  Rather, most abstractors (myself included) do their accounting with the more simple cash basis method, which means you don't count it as income until you get the check.

Put more simply, you cannot write off a uncollected debt against monies you have collected.  You pay the tax on the amount you actually receive in either manner, it is just a matter of when you factor it in. 

Best,
Robert A. Franco
SOURCE OF TITLE

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Re: If I see one more post about non-payers.... - Robert Franco/OH
10/5/2006 1:57:17 PM (3861 views)
Re: If I see one more post about non-payers.... - David Bloys/TX
10/5/2006 2:18:23 PM (3927 views)

Non Paying Clients - Jodi Earls/MI
10/5/2006 12:04:07 PM (2331 views)




[+] New Ownership/Not Paying - Robert Franco/OH (3 replies)
10/5/2006 12:03:55 PM (2922 views)

[+] PCN - Tim Shelton/AL (3 replies)
10/4/2006 6:23:41 PM (2621 views)

[+] CONTEMPORARY CRS - Becky Kale/IL (10 replies)
10/3/2006 2:06:18 PM (3022 views)

[+] Sharing Some Info. - Austin Whitaker/NJ (2 replies)
10/2/2006 8:56:38 PM (3932 views)

[+] 90 Days Past Due Companies - Duba Magdaleno/IN (8 replies)
10/2/2006 5:55:37 PM (2921 views)

JMR RETRIEVAL - Angelica Schneider/IN
10/2/2006 5:47:15 PM (2290 views)

[+] Southern Land & Title in KY - Carla Curry/KY (3 replies)
10/1/2006 5:10:59 PM (2733 views)

[+] Rush orders? - Rebecca Barney/FL (9 replies)
9/29/2006 11:21:24 AM (3073 views)

[+] Onondaga Abstract - Candis Richter/NJ (1 reply)
9/29/2006 10:31:15 AM (2912 views)

[+] ABSOLUTE PROPERTY SERVICES - Becky Kale/IL (39 replies)
9/28/2006 2:29:53 PM (3193 views)


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