When Congress passed the Tax Cuts and Jobs Act in late 2017, the Internal Revenue Code (“Code”) experienced a major adjustment. In addition to numerous, noteworthy changes in the Code, the treatment of “net operating losses” is now subject to different parameters. A net operating loss (“NOL”) is a loss taken by a business where…
Author: Jake Plotnik
A Tasty Tax Exclusion for Silicon Valley Employees
In 1999, Google’s forty employees hosted a cook off to see who would be the future first chef of their company’s kitchen.1 After sampling 25 different cooks, the office ultimately named Charlie Ayers the winner of the competition after trying his eclectic and worldly selection.2 Google’s early employees and Ayers could hardly imagine the gourmet…
Corruption Scandal in College Basketball
In the sportswear industry, Nike is the main player, but well-known competitors Adidas, Under Armour, and others are constantly attempting to improve their position in the market. One way an apparel company can gain an edge is to sign superstar athletes to wear their gear and advertise their brand. Famously, professional basketball players LeBron James,…
The Online Gambling Landscape
In 2006, Congress passed the Uniform Internet Gambling Enforcement Act (“UIGEA”), which “prohibits gambling businesses from knowingly accepting payments in connection with the participation of another person in a bet or wager that involves the use of the Internet and that is unlawful under any federal or state law;” failure to comply with the UIGEA…