A Quick Overview of the Asymmetric Taxation of Business Gains and Losses

The current tax treatment of operating losses If a business has tax liability from the prior two tax years, it may carry the net operating loss (NOL) back to offset that liability. However, if the NOL exceeds its profit from the recent two years, the business cannot exhaust the NOL deductions through carryback. It can … Continue reading A Quick Overview of the Asymmetric Taxation of Business Gains and Losses