At PKM, your success is our success. We want to help you make the most out of your relationship with us through serving as a strategic advisor and trusted business partner, not simply your tax accountants. As such, we go above and beyond to find ways to minimize your previous years’ tax liabilities, treating your business as if it were our own.
- Net Operating Loss (NOL) Carrybacks:
We will help you determine whether to elect three-, four-, or five-year carry-backs for your 2008 or 2009 losses, maximizing your refund potential. We have experience calculating and filing carry-back forms and determining the consequences a carry-back will have on deferred tax assets and capital ratios.
- Section 382 Analysis:
Section 382(a) of the Code provides that the taxable income of a loss corporation for a year following an ownership change may be offset by pre-change losses only to the extent of the Section 382 limitation for such year. These limitations can give rise to complications in computing the allowable NOL. We will help you plan for the tax consequences, which is essential to avoid any unexpected tax liabilities resulting from a limitation on the use of NOL against taxable income.
- Capital Raising and IRC Section 382:
Net operating loss carry-forwards and potentially other built-in losses could be subject to limitations on deductibility after such a capital infusion. This tax rule can significantly reduce anticipated tax benefits following a capital raise. We work with you to help you obtain the most capital in today’s challenging environment.