Tax Insights Update: Expensing and Net Operating Loss Calculations
In this video, Ollin Sykes gives an update on the TCJA regarding how pharmacists should plan ahead to properly expense and calculate net operating losses in light of tax law changes through 2025, including 199A with the 20% passthrough deduction and the limits on net operating loss reporting (must carry forward; can’t carry back). One time adjustment available, and it’s a big one, but you have to understand where your numbers are with P&L and balance sheet.
