8 Things You May Not Know About Queen Elizabeth II. Explore eight interesting facts about Britainâs long-serving monarch, who ascended the throne upon the death of her father in February 1952.
Net operating loss (NOL) A net operating loss (NOL) results when a business allowable deductions exceed its gross income for the tax year. It can use the NOL in another year to reduce taxable income. When the NOL is carried back to a previous year a refund may result. While less common, individuals may have an NOL from expenses other than business losses, including: Employee business expenses;
Different operating expenses accrued for a typical office may include accounting expenditures, insurance costs, payments for property taxes and utilities, repair and rental fees for non-production facilities, office supplies and legal fees. Some companies also include the costs of goods sold (COGS) as an operating expense. For example, direct labor or rent for production facilities may be classified as different types of operating expenses.