Tim, a single taxpayer, operates a business as a single-member LLC. In 2019, his LLC reports business income of $225,000 and business deductions of $580,000, resulting in a loss of $355,000. a. What are the implications of this business loss? Tim has an excess business loss of $ . b. Can this business loss be used to offset other income that Tim reports? If so, how much? If not, what happens to the loss? Tim may use $ of the $355,000 LLC business loss, to offset nonbusiness income . The excess business loss is treated as part of Tim's NOL carryforward .

What other aspects of ecuadorian culture, other than its predominant religion and language, might affect that country’s culture?

Gary lives in an area that receives high rainfall and thunderstorms throughout the year. which device would be useful to him to maintain his computer?

David paid $975,000 for two beachfront lots in coastal south carolina, with the intention of building residential homes on each. two years later, the south carolina legislature passed the beachfront management act, barring any further development of the coast, including david's lots. when david files a complaint to seek compensation for his property, south carolina refuses, pointing to a passage in david's own complaint that states "the beachfront management act [was] properly and validly designed to south carolina's " is south carolina required to compensate david under the takings clause?