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    Annual Business Loss - S Corp
    I have a small business and have taken a substantial loss of -$25,000 last year. As a S Corp while I was filing my personal taxes and entering the loss thru the K-1 Schedule. I noticed that the tax refund received did not change much if I put - $25,000 or -$10,000.

    Is there a threshold to this that will only give a tax refund up to a limit? Does it get carried forward to the next year? or Is it a wash?

    Any way to benefit from my unfortunate loss to help?


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    When you show a loss on your tax return, it is difficult to get a loan.


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    Chris
    Please visit my website for all your Income Tax Santa Paula needs.
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    In the event that your business is worked as a LLC, S company, or organization, your of a NOL isn't as straightforward as deducting your misfortunes from your yearly pay.


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    I suggest talking to a finance strategist or an accountant. Perhaps they are more capable in giving you advice. - Marla Algrimm


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    thanks for sharing with us


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    thanks for sharing with us


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