I lost a significant amount of money to a vendor who scammed my business, how do I claim a casualty or theft loss on my corporate tax return?

Question

Kohari Gonzalez Oneyear & Brown · Accepted Answer

Business losses tied to a vendor scam can raise several tax questions at once, including whether the loss is treated as theft, a bad debt, or an ordinary business deduction on the corporate return. The treatment often depends on how the payment was made, what documentation exists, whether there was  For an answer applied to your exact numbers, bring this question to a licensed KGOB CPA in a focused session and leave with a clear next step.