Keri Is a Single Taxpayer and Has a Net Operating

question 22

Essay

Keri is a single taxpayer and has a net operating loss of $30,000 in 2015. Her taxable income for the last 5 years has been about $10,000 each year. She expects 2016 to be a very good year and projects that her income will be over $100,000. If you were Keri's tax advisor, what would you recommend that she do with her 2015 operating loss? Explain.

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Definitions:

Centralized Tactical Program

A strategy or operation managed from a single, central location or authority, focusing on short-term goals or responses in a specific area such as military, security, or business operations.

Specialized Skill

A specific ability or expertise that is developed through training or experience and is necessary for certain occupations or tasks.

Inimitable Corporate Culture

A unique set of business practices, traditions, and values that cannot be easily replicated by competitors.

Southwest Airlines

An American airline company known for its low-cost travel options and extensive domestic network.