Brian Boyd

But there is case law out there that says an individual can do it.

And there's also the fact of the, you know, it's done routinely through the bankruptcy process.

You discharge the debt.

And so a lot of people just don't understand that.

They just like, oh, no, it's only financial institutions.

No, I mean, if somebody owed me a debt and I had a loan agreement with them and I discharged it, I can absolutely turn that into the IRS and say, hey, now this is a bad debt.

I'm writing it off.

It's income to them.

So it got a lot of attention.

And I didn't realize it was such a big deal to people.

But that's how tax lawyers, strategists and tax practitioners think about the tax code.

We don't think about it as punitive.

It's not.

It's just a set of rules.

And that's all we're doing.

We're just taking the rules and applying them.

And then, you know, the really good tax practitioners and strategists think about, OK, the rule says this, but it doesn't say I can't do this.

Yeah.

It's all about interpretation.

Like, well, if I do this, which the statute doesn't say I can do, but it doesn't explicitly say I can't do it.