A corporation commissioned an accounting firm to recalculate the way it accounted for leasing transactions With the new calculations, the corporation was able to file amended tax returns for the past few years that increased the corporation 's net operating loss carryover from $3,000,000 to $5,000,...

It depends on how much they paid the accountants wh ...

A corporation commissioned an accounting firm to recalculate the way it accounted for leasing transactions. With the

Question:

A commissioned an accounting firm to recalculate the way it accounted for leasing transactions. With the new calculations, the was able to file amended tax returns for the past few years that increased the corporation's net operating loss carryover from $3,000,000 to $5,000,000. Was the wise to pay the accountants for their work that led to the increase in the NOL carryover? What factors should be considered in making this determination?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...