Can You Get A Tax Write Off If You’ve Paid A Ransom?

tax write off for ransom  - sterling accounting Well, this one is quite an interesting read… and I think you’ll be as surprised as I was to learn that if a business has been the victim of a hacking attack and has paid a ransom – there is a chance they can write off those losses on their taxes.

“The IRS defines¬†a theft as the taking and removing of money or property with the intent to deprive the owner of it. The taking of property must be illegal under the laws of the state where it occurred and it must have been done with criminal intent…” [ Read more here ]

 

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