| Ok, understand. However, I'm asking about the work you've accomplished. If you did work and the court isn't reimbursing it, it is still work that at a minimum is an opportunity cost to the Firm of $300 an hour. Therefore, if the Federal court will not accept it and it is work you have already done or expenses that have been incurred, we can classify the 2010 work as "bad debt" in the QB and it is subtracted from the profit margin and will reduce your taxes for this year.
My question is whether or not you want a tax deduction of $4,105.97 this year. Please think about it and if you are home before 30 Dec, we can discuss on the phone so as to clarify the focus of my question. My drop dead of making the books balance and pay as many expenses as possible is 30 Dec for tax purposes.
M On Dec 20, 2010, at 1:55 PM, Haytham wrote: M This is not bad debt. The court changed the ruled on what an be claimed. I'm waiting on an explanation. Once I get that I'll be able to adjust the budget. They're basically denying fees that are disallowed. Haytham Faraj Sent from my iPhone H, received the $7405.50 check for your last voucher to the Court. Total of the two now submitted and the resulting Fed check that denied some of the voucher items, means that over $4,105.97 is outstanding. If you think you can recover this by some other means, could you let me know. If you want this to be a "bad debt" and deducted from the bottom line for taxes, that decision needs to be made as soon as possible to make sure the books are correct.
M
Marcelyn Atwood Business Manager
The Law Firm of Puckett & Faraj, PC 1800 Diagonal Road, Suite 210 Alexandria, VA 22314
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