Tag: NE

  • Net Operating Loss (NOL)

    Description and Definition of Net Operating Loss (NOL) A net operating loss is experienced by a business when it's deductions exceed it's income. For income tax purposes a net operating loss can be used to offset income in a prior year. An NOL can be carried back for the last 3 years […]

  • Net Worth

    Net Worth means:the amount by which the fair market value of all of a corporation's assets exceed its liabilities. With respect to a collapsible corporation, its assets include the amount of any distributions in complete liquidation, and net worth does not include contributions to […]

  • Net Income

    About Net Income: In general. The sum remaining after all expenses have been met or deducted; synonymous with net earnings and with net profit or net loss (depending on whether the figure is positive or negative). Net income is gross income less deductible income-related expenses. Many […]

  • News Releases

    News Releases Overview IRS News Releases consist of Information Releases as well as Fact Sheets, both issued by the IRS. Information Releases are news releases from the IRS. They are numbered sequentially by year, and will always start with “IR-YYYY-” where YYYY is the year of the release. News Releases are issued by the IRS…

  • Necessary

    About Necessary: IRC (check if this IRC provision is current here) §§ 162(a) and 212. See ordinary and necessary business expenses….

  • Net Unrealized Appreciation

    About Net Unrealized Appreciation: The Net Unrealized Appreciation (NUA) the amount by which any unrealized appreciation on appreciating assets exceeds any unrealized depreciation on depreciating assets. NUA comes into play if the taxpayer takes a total payout from a company retirement plan that inc…

  • Net Operating Loss

    About Net Operating Loss: Net Operating Loss (NOL) was the excess of allowable deductions over gross income with certain specific adjustments set forth in the Internal Revenue Code, which are generally designed to limit the net operating loss deductions of individual taxpayers to business losses. Am…

  • Negligence Penalty

    Negligence Penalty means:a 20% accuracy-related penalty based on the portion of an understatement attributable to negligence. Former IRC (check if this IRC provision is current here) §6653….

  • Net Operating Loss Deduction

    Net Operating Loss Deduction means:a deduction in one tax year of a net operating loss (NOL) generated in another year. A NOL from a prior year may be shown as a deduction on the current year's tax return. Net operating losses from the taxpayer business generally are carried back for two years (…

  • Net Lease

    Net Lease means:a lease whereby, in addition to the rent stipulated, the lessee (tenant) pays such expenses as taxes, insurance, and maintenance. The landlord's rent receipt is thereby net of those expenses….