一目了然:
An event management company facing significant net operating loss, turned to 老葡京手机app for help. 老葡京手机app utilized the loss 和 a provision from the CARES Act to lower previous year taxable income 和 earn the agency a large refund.
挑战:
An event management company faced a significant financial setback with a $131,000 net operating loss on their corporate tax return. With the prospect of no future refunds or tax deductions, the company reached out to 老葡京手机app to determine how to recoup their losses 和 maximize financial resources.
解决方案:
Following a meticulous examination of the agency’s past tax filings, 老葡京手机app recognized that under the 2020年关怀法案，公司可以 carry back net operating losses for up to five years. This enabled them to claim refunds for previously paid taxes. Prior to the CARES Act, Net Operating Losses could only be carried forward. The company was able to carry the $131,000 loss back five years to offset taxable income from previous years. The result was a reduced taxable income for the five years preceding the tax filing 和 an opportunity to request a refund based on the revised income during those years.
结果:
By revising the company’s tax returns, 老葡京手机app earned the company a $49,500 refund. These additional funds provided significant financial relief. It became a source of reinvestment 和 operational adjustments during the COVID-19 p和emic. 老葡京手机app’s solution provided the company with relief during a time of critical financial need.
Please contact Tom Bailey via our online 触点形式 for more information.
委员,葡京会手机app下载 & 老葡京手机app(老葡京手机app) is a professional services firm delivering tax, accounting 和 business advisory expertise throughout the Mid-Atlantic region from offices in 马里兰州贝塞斯达 和 华盛顿特区.
