Block · one region of the page, as the scanner read it. It may hold a whole story, part of one, several, or an advertisement; stitching blocks into articles is the next step. Text is supplied OCR.
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corporate minutes. A business bad debt can be deducted when it becomes partially worthless or completely worthless and it gives you an ordinary loss that offsets taxable income dollar for dollar. A personal debt can only be deducted when it is totally worthless and is treated as a short-term capital loss which means it will first offset capital gains and then can offset ordinary income to the extent of only $3,000 per year.
Earl Yancey, CPA, is a Viewtown resident and maintains his accounting practice in Warrenton.
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