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tax losses

One week left to go back five years with your tax losses

September 8, 2009 by Joe Kristan with 182 views

A deadline looms for taxpayers who had a bad year in 2008. One of the few silver linings to a bad year is the opportunity to carry back tax losses. The federal income tax law normally allows you to use a current "net operating loss," or NOL, to offset taxable income as far as two years back. A taxpayer with a 2008 taxable loss can... [read more]

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