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QUESTION DETAIL
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I have my own company where I do research for clients. If a client doesn't pay me, can I still deduct the lost wages from my taxes? If I happen to be a minority partner in the company that is not paying me, can I still deduct my lost wages?
ANSWER
The BIDaWIZ Team's Answer:
Unfortunately, you cannot deduct lost wages per IRS guidance. You would just have less income to report for tax purposes.
