Jess has had a couple of good years in his new business and generated large amounts of taxable income.In the current year,however,he has a net operating loss of $8,000.He is uncertain about the future of the business,and has a serious cash flow problem.As his tax accountant,how would you recommend Jess treat his net operating loss?

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The Answer of Jess has had a couple of good years in his new business and generated large amounts of taxable income.In the current year,however,he has a net operating loss of $8,000.He is uncertain about the future of the business,and has a serious cash flow problem.As his tax accountant,how would you recommend Jess treat his net operating loss?

Jess Has Had a Couple of Good Years in His