Save while you wait — Net operating loss rules offer tax relief in uncertain economy
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Description
Abstract: Some tax relief may be available for companies that suffer a net operating loss (NOL). This article describes a couple of options available in reporting the loss, along with the circumstances — for example, business structure, cash flow and tax rates — under which one or the other option might be a better choice. A sidebar looks at a couple of year end tax planning issues: 1) a tax credit for hiring veterans and 2) choosing between 50% bonus depreciation and the Section 179 expensing election.
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