Net operating losses (NOLs) can be a boon for corporations that experience a down year, allowing them to offset taxable income in other years. But, NOLs come with complex rules and limitations, so it's important to understand your options. This article will answer all your frequently asked questions about NOLs, including what they are, how to calculate them, whether they can be carried back or forward, how to claim them, and what limitations and special rules apply. By the end, you'll have the knowledge you need to use NOLs to your corporation's advantage.
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Advisory
Understanding and Utilizing Net Operating Losses (NOLs): How Puerto Rican businesses can carry forward or backward their NOLs to offset taxable income.
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7 min read
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30 Nov 2023
Advisory
Building a Sustainable Future
In September 2015, the United Nations introduced an ambitious and transformative global agenda known as the Sustainable Development Goals (SDGs). Adopted by all 193 UN member states, these 17 interconnected goals aim to address pressing global challenges, such as poverty, inequality, climate change, environmental degradation, and peace and justice, by 2030. The SDGs represent a call to action to create a more equitable and sustainable world. Countries worldwide have been making commendable efforts to implement the SDGs. Take, for instance, Sweden, a frontrunner in sustainability, which is actively reducing carbon emissions and embracing renewable energy sources. This European country is aiming to have zero net emissions of greenhouse gasses into the atmosphere by 2045.
Advisory
Assessing Your Business Risks with SOC Reporting
System and Organization Control reports (SOC), provide insight into how a particular process is conducted. They also provide insight into whether the internal controls are adequate to maintain the desired level of accuracy, completeness or relevance when focusing on business processes. If you are concerned about information technology, SOC reports help assure that a control frameworks exist around the following criteria security, availability, processing integrity, confidentiality, privacy or other topics.
Advisory Article
Upgrade your data governance
To effectively use and control data, businesses need effective data governance. The journey to effective data governance requires each business to identify its unique considerations, roles and rules that inform its principles of value and security.
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6 min read
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18 Apr 2022
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4 min read
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18 Mar 2022
Advisory Alert
Increase preparedness for Cybersecurity attacks
In the recent events between Ukraine and Russia, the government and private organizations observed an increase in cybersecurity attacks that has been mostly used to target organizations in Ukraine and that may spread to other countries.
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3 min read
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10 Mar 2022
Advisory Article
The smart approach to intelligent automation
As organizations streamline and adapt, the once-distant promise of business automation is delivering real results and defining tomorrow’s top competitors.
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2 min read
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14 Feb 2022
Advisory Article
How internal audit can fortify cybersecurity
When you’re trying to stay a step ahead of ransomware attackers, adjusting your organization’s cybersecurity profile can start to seem like an endless game of whack-a-mole.
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4 min read
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25 Jan 2022
Advisory Article
Liquidity planning in a crisis - How to increase speed, efficiency and effectiveness
When you can quickly forecast liquidity and be agile, you will help your organization see its runway during a crisis - a critical area to understand - and anticipate when you might run out of cash.
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6 min read
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21 Dec 2021
Advisory Article
Accounting for revenue contracts acquired in a business combination
The FASB recently issued ASU 2021-08, Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, creating an exception to the recognition and measurement principles in ASC 805, Business Combinations.
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4 min read
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15 Nov 2021
Advisory Article
Cybersecurity in M&A strategy
Mergers and acquisitions require a mix of strategic and tactical work – cybersecurity is usually an item on the tactical list.
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4 min read
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18 Oct 2021
Press releases
Thinking about selling your business?
14 Oct 2020These are certainly difficult and uncertain times, and the question of whether this is the right time to exit the business or continue until the pandemic passes, is something many are pondering. A business advisor can help and guide businessowners through this process to weight the best options available, maximize the value of the business and a potential higher return in a transaction.
Importance of Cash Management During Turbulent Times
07 Oct 2020As COVID-19 continues to spread worldwide, there is growing uncertainty pertaining to cash flows and economic activity. In these uncertain times, cash and liquidity needs are paramount. Consequently, decisions taken when budgeting or overseeing tasks related to cash flows can determine the organization’s future trajectory.
Protecting Your Business Through the Paycheck Protection Program
30 Sep 2020The CARES Act provided a new program - the Paycheck Protection Program (PPP), which was focused on encouraging employers to retain employees and maintain salaries during the rest of 2020.
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