TITLE

Applying Net Operating Losses for 30 Years

AUTHOR(S)
Jensen, Arthur P.
PUB. DATE
June 2009
SOURCE
National Public Accountant;Jun/Jul2009, Vol. 8 Issue 3, p12
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article discusses how to apply business net operating losses (NOLs) for 30 years. It states that specified liability losses (SLL) are afforded a 10-year carryback and therefore can be used for 30 years. It mentions that the client should examine the chances to increase NOL size and augment refunds.
ACCESSION #
70121432

 

Related Articles

  • Valuation of tax loss carryforwards. Sarkar, Sudipto // Review of Quantitative Finance & Accounting;Nov2014, Vol. 43 Issue 4, p803 

    Tax loss carryforwards (TLC) are a valuable asset because they can potentially reduce a company's future tax payments. However, there is often a great deal of uncertainty regarding the probability and timing of these tax savings. We propose a contingent-claim model to value this asset. The value...

  • S 242--THE FORGOTTEN RELIEF. Monteith, Anita // Accountancy;Dec1991, Vol. 108 Issue 1180, p83 

    Discusses the use of losses to obtain corporation tax credits on surplus franked investment income (FII) in Great Britain. Definition of FII; Reliefs available; Trading loss relief; Impact of a trading loss; Reinstatement of trading losses; Example of a test question on loss relief.

  • NOL Carrybacks Extended to Five Years. Malik, Shahzad // M&A Tax Report;Jan2010, Vol. 18 Issue 6, p6 

    The article reports that U.S. taxpayers may choose to carry back net operating losses (NOL) for the 2008 and 2009 tax years for up to five years, under the Worker, Homeownership and Business Assistance Act of 2009, which was implemented on November 6. Under the change, businesses that have had...

  • Tips for Avoiding Common NOL Errors.  // California CPA;Oct2004, Vol. 73 Issue 4, p31 

    Presents tips for avoiding common net operating losses (NOL) errors. Suggestion on avoiding failure to provide documentation that will support the NOL calculation; Information on figuring the NOL carryback or carryover for married people whose filing or marital status changes; Instructions for...

  • States Attracting Biotech by Extending NOL Carry Forward. Pihl-Carey, Karen // BioWorld Financial Watch;6/2/2008, Vol. 16 Issue 22, p1 

    The article reports on the introduction of the 2007 Assembly Bill 1370, which proposes doubling the time that biotechnology companies can carry forward their net operating losses (NOLs) from 10 years to 20 years in California. The bill, introduced by California State Assemblywoman Sally Lieber,...

  • CHAPTER 5: Business Losses and Failures. Daily, Frederick // Tax Savvy for Small Business;11/ 1/2011, p77 

    The article discusses how small business owners can take tax benefits from business operating losses. Accountants refer to business operating losses that are filed on tax returns as a net operating loss (NOL), which means that the deductions of a business is more than its income. A summary of...

  • Cash is king when it comes to net operating losses. Fuller, Daniel W. // Grand Rapids Business Journal;11/23/2009, Vol. 27 Issue 48, p11 

    The author discusses the need for a loss business to engage in federal tax planning because refunds can be taken from the net operating loss (NOL) through application to the earlier years the business paid taxes. He points out that a taxpayer will have to consider items like special tax...

  • New tax breaks for NOLs. Grill Jr., Norman G. // Westchester County Business Journal;4/27/2009, Vol. 48 Issue 17, p9 

    The article reports on the new federal tax code for net operating loss (NOL) in the U.S. Businesses with expenses that are above their income are qualified for a NOL deduction. Businesses with enough net income in the past two years are allowed to absorb their 2008 NOL. While small businesses...

  • Tax break for tough times: NOL deduction. Grill Jr., Norman G. // Fairfield County Business Journal;7/28/2008, Vol. 47 Issue 30, p19 

    The article provides a strategy that could help companies mitigate their business loss during the time of economic downturn. One way to lessen any shortfall is to claim a tax deduction for a net operating loss (NOL). Companies could only declare that their business is suffering from NOL if their...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics