Anyone who has run a business of any size understands how confusing and, at times, complex the tax code can seem. So deferred tax assets (DTAs) can be challenging. However, understanding them is ...

When it comes to a company’s taxes, there are two important categories to understand: assets and liabilities. Tax liability is anything that a person or company owes taxes on, such as income or ...

In the United States, companies can maintain two separate sets of books for financial and tax purposes. Since financial and tax accounting rules differ, temporary differences can arise between the two ...

Deferred taxes refer to the taxes that a company will pay or receive in the future, due to temporary differences between its accounting profit and taxable income. These differences can arise because ...

The temporary differences arise when income or expenses are recorded in accounting profit in one period but in taxable profit in another period, known as timing differences. These differences may ...