Losses come in many shapes and forms. There are losses caused by dishonest employees and/or customers, financial losses from bad business decisions or a poor economy and losses that result from natural disasters such as hurricanes and fires. Although insurance, such as so-called “business continuation insurance” provides protection from some losses, it is our tax laws that can really help reduce the bite of losses.

Surprisingly, many businesses actually are profiting from their losses. That’s right, taking full advantage of and correctly using our tax laws that apply to the losses of a linen, uniform and facilities services company can ...