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Tax Reform NOL Changes Webinar

Summary

The goal of every business owner is to make a profit, but sometimes losses do occur. As a tax professional, you must know how to handle net operating losses (NOLs) when this happens. Not all business losses result in NOLs at the individual taxpayer level, but you need to know what qualifies as a NOL and how to properly calculate and report it. We’ll also review new options taxpayers have under the Tax Cuts and Jobs Act.

Objectives

Upon completion of this course, you will be able to:

  • Identify if a business or individual has incurred an NOL.
  • Calculate the amount of the NOL.
  • Identify how to report the NOL properly.
  • Compare and contrast the rules prior to and after the TCJA.
  • Recognize when an NOL can be carried back under the TCJA rules.
  • Compute the NOL deduction for each taxpayer when there is a filing status change.

Course Details

Our researchers will answer your questions during the presentation. This webinar includes the presentation slides, Attendee Top Questions and access to the webinar recording.






   

Presented by: Randy Lawshé, EA

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