If you’re running a business, whether it’s new or established, it’s possible that you may experience losses. But don’t worry, the federal tax code can help. You have the option of applying your losses to offset taxable income in future years, subject to certain limitations, through the net operating loss deduction. Qualifying for a Net
The CARES Act includes several provisions that can help boost cash flow for construction companies (and other businesses) as well as reduce their tax bills.
The Coronavirus Aid, Relief and Economic Security (CARES) Act, which passed earlier in 2020, includes some retroactive tax relief for business taxpayers.
Let’s look at three issues that contractors should keep an eye on in light of the CARES Act: payroll, losses and qualified improvement property.
You may be able to benefit by carrying a net operating loss (NOL) into a different year — a year in which you have taxable income — and taking a deduction for it against that year’s income.
Here are some of the tax-related provisions in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
TCJA has placed some limitations on deducting business losses. Here’s a look at the changes in the rules and how they might affect you.