The Tax Cuts and Jobs Act (TCJA), signed into law in December 2017, brought significant changes to the United States tax code, including alterations to how business income is taxed....
Posted by Rosovich & Associates, Inc. on 11/30/2023
When a business generates losses instead of profits, it can be a financially devastating experience. However, these losses can be used to offset taxable income in the future, thereby...
Posted by Taxes Made EZ Inc on 04/27/2023
A net operating loss (NOL) occurs when a business has deductible expenses that exceed its taxable income for a given tax year. In other words, it is a tax loss that a business can...
Posted by Pat Raskob on 02/22/2023
A Ponzi scheme is an investment scam in which the conspirator uses the money invested in creating a false return on the investment.According to an article on CNBC.com, officials uncovered...
Posted by Carmen Garcia on 02/12/2021
There are essential elements in the 2018 tax law changes that will affect farmers and their families. These changes span through to 2025.Effect on Individuals Standard Deduction:...
Posted by Carmen Garcia on 11/18/2020
You have completed all necessary tax documents, including Schedule C and your tax return. Now you discovered a mistake, and an Amended form 1040X will come to your rescue.Form 1040X:...
Posted by Flynn Financial Group Inc on 08/28/2020
When a business has a net operating loss, it means there is a negative income. It happens when the tax that can be deducted from a company is more than taxable income. While this is...
Posted by Don Bell Law on 04/02/2020
Some years will not go as planned, and sometimes companies do not realize profits as high as in previous years. When expenses start to exceed your income, you lose your position. However,...
Posted by Advanced Accounting & Tax Planning on 08/02/2019
Every year does not go as expected, and sometimes it could be a situation where businesses made fewer profits as they did the years before. When the cost of expenses begins to exceed...
Posted by Elliot Kravitz, ATP on 07/25/2019
