Tax benefit of an NOL deduction
e-Activity
Go to the Internal Revenue Service Website, located at http://www.irs.gov, to search and read the latest filing year’s “Publication 536.” Take notes on the rules for deducting a net operating loss (NOL).
From the e-Activity, make a recommendation about the timing of the deduction to a client that would maximize the tax benefit of an NOL deduction. Provide a rationale to support your recommendation.
Debate it! The rules for deducting casualty and theft losses are unfair and must be changed. Give support for your reasons.
e-Activity
Go to the Internal Revenue Service Website, located at http://www.irs.gov, to search and read the latest filing year’s “Publication 536.” Take notes on the rules for deducting a net operating loss (NOL).
From the e-Activity, make a recommendation about the timing of the deduction to a client that would maximize the tax benefit of an NOL deduction. Provide a rationale to support your recommendation.
Debate it! The rules for deducting casualty and theft losses are unfair and must be changed. Give support for your reasons.
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