Collecting That Long Overdue Shoeing Account

When you have a client that has fallen far behind on a bill for shoeing work, consider mailing them a letter stating that you intend to file Form 1099C with the Internal Revenue Service (IRS) reporting the overdue amount as income to your client. Under the federal tax law, a forgiven debt is treated as income to the debtor, maintain the editors of Bottom Line/Business newsletter. Your letter should state that if you decide the debt is uncollectible, you will forgive the debt and report it to the IRS.

Accountant Irving Blackman says your client may realize that payment will be made on the debt one way or another — either to you or the IRS — and will probably not want to receive any extra attention from the IRS, which serves as the incentive to finally pay your shoeing bill.

What Do Farriers Most Want In Nails?

In an exclusive American Farriers Journal survey conducted during last January’s Bluegrass Laminitis Symposium in Louisville, Ky., farriers were asked what was the most important criterion in selecting the nails that they use. Some 35 percent indicated it is nail quality, 30 percent maintained it is driveability, 20 percent said it is nail consistency and only 15 percent felt the most important item is the price of the nails.

Get What You Want On Thursdays

The work week has a natural rhythm, affecting how receptive shoeing clients who work 40 hour jobs will be to your…

To view the content, please subscribe or login.
 Premium content is for our Digital-only and Premium subscribers. A Print-only subscription doesn't qualify. Please purchase/upgrade a subscription with the Digital product to get access to all American Farriers Journal content and archives online.

Top Articles

Current Issue

View More

Current Issue

View More

Must Read Free Eguides

Download these helpful knowledge building tools

View More
Top Directory Listings