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The really messed up thing about this is the tax implications. The doctor gets a write off for his 'losses'; his tax bill it lower. The patients are subject t
by baldeagle 6y ago
The really messed up thing about this is the tax implications. The doctor gets a write off for his 'losses'; his tax bill it lower.
The patients are subject to paying tax on this as-if it were income (because they received $X of debt cancellation). Their tax bills will go up.
- duckfang 6y agoSo, can I go around writing "Debt forgiveness bills", take that off my taxes, and report them as "debt reconciliation income"? What allows them to make up magic numbers for a price?
- lancepioch 6y agoTax fraud is a felony. If morality doesn't stop a person from doing what's wrong, then usually the law (and its repercussions) does.