Examlex
Bingo Corporation incurred a $10 million net operating loss in 2019. Bingo reported taxable income of $12 million in 2020. Bingo can offset the entire $10 million NOL carryover against taxable income in 2020.
Annual Contributions
The amount of money contributed to a particular account or investment over the course of a year.
Savings Plan
A scheme that encourages regular saving with a bank or financial institution, often linked with benefits such as interest or investment returns.
Effective Rate
A comprehensive annual rate that accounts for compounding, often used in finance and investments to provide a true comparison among different financial products.
Investments
The allocation of assets with the goal of generating income or profit over time.
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