NOL reform makes planning for future even more important
Additionally, there are several other nuanced issues to consider when dealing with NOL laws. It’s incumbent upon companies to meet with tax professionals early to determine how the new NOL guidelines and TCJA reforms them.
“It is our job to assist our clients in understanding their options and optimizing the positives and decreasing impact of the negative aspects of the 2017 tax reforms,” Kristiansen said. “In the past the NOLs could go back and forward, now with the ability to go only forward, it’s more important than ever to plan for the future now.”