Word: recording
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Dates: during 2000-2009
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...just how badly the recession has hit big companies. But it could also turn out to be a leg up for corporations in the recovery. All that red ink could turn out to be a little-noticed boon for corporate bottom lines. That's because companies are allowed to record a tax credit for current losses in order to lower their tax bill when they return to profitability. (See six year-end tax tips...
...hard to know just how much that $400 billion in losses will end up lowering corporate America's tax bill. Companies are allowed to record tax credits for current losses and use those credits to lower their bill when they return to profitability. If companies have more tax credits than profits, they are allowed to carry those credits forward for up to 20 years or until they are used up. (See 10 ways to spend your tax refund...
Public companies record two types of earnings, one to the SEC and one to the IRS. It is perfectly legal for these numbers not to match, and often they don't. In 2008, retailer Macy's lost just under $5 billion, but only $33 million of that qualified as a tax loss eligible for credits against future profits. Other times a company books a much bigger tax benefit than its actual losses. Citigroup, for instance, had a bottom-line loss of nearly $28 billion in the numbers it reported to shareholders and the SEC. But at the same time...
...year after Dawson graduated, Ho came into his own. As a sophomore, he teamed with then junior Chris Pizzotti ’09 to lead the team to an undefeated league record and the Ivy Title...
...tons of hummus and three tons of tabbouleh are the newest additions to Lebanon’s arsenal in its struggle with Israel. Almost two weeks ago, the Lebanese set out to break the world record for largest hummus and tabbouleh dishes, previously held by Israel. The events took place on consecutive days and brought together 300 chefs and hundreds of citizens. Remarkably, the event was publicized and encouraged by different Lebanese political parties...