NOL Archives - Page 2 of 2 - John R. Dundon II, Enrolled Agent
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NOL Tag

24 Nov

Posted at 00:00h in Net Operating Loss, NOL

Large and midsized companies can now take advantage of expanded net operating loss carryback rules to use the losses they incurred during the economic downturn to reduce their income from prior tax years. The Worker, Homeownership and Business Assistance Act of 2009, which President Obama signed...

27 Oct

Posted at 00:00h in Net Operating Loss, NOL

Sec. 172(a) allows taxpayers to deduct against a tax year's income those net operating losses both carried over to the tax year from previous tax years and carried back from later tax years. An NOL basically is the excess of allowed deductions over gross income....

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