What’s the difference between a deferred tax expense and deferred tax asset/ liability?

like
Posting as :
works at
You are currently posting as works at

Expense benefit is on the p&l and the current change while DTA/DTL is the balance sheet item that is the future tax charge for items already recognized in the p&l

helpful

One is on the income statement and the others are on the balance sheet. Just like any other expense vs asset/liability.

Related Posts

What percentage of your income do you save, invest and spend?

like

How does pwc’s wealth builder plan work ?

like

Porsche IPO worth buying now amid market and economy turbulence?

like

Does anyone have a realtor that they love in center city? We’ve outgrown our starter home and looking for a little more space!

like

Other than Airbnb, what is the best way to find month to month rental options?

like

Should you add any ETFs that track international markets? If so, which ones?

like

Totally, new to cryptos and thing of buying partial BTC. Someone told me BTC sell is hard and different from stocks. Is it easy to sell ? Is there a thing like someone should be there to buy a BTC in order for me to sell? Can anyone pls explain crypto trading?

like

Really regret not selling United Wholesale Mortgages. Very confused on what to do with this one. Unless it gets PT it’s gonna be stuck around the 10 range. Think I may be eat the loss on first say a dividend is available

like

I’m seeing lots of posts about really bad losses. If you trade you’re going to lose money - hopefully not all the time, but many positions will be mistakes. But you need a process to find ideas and manage positions. Two books you should read are “The New Trading for a Livinng” and “The Laws of Trading.” Both look at psychology, process, and risk in different ways that can help you work out your own process. The next 18 months will be much harder than the last 18 - time to start learning.

likehelpful

I should probably know this, but are companies required to refinance their debt if they are acquired?

like

Hi folks,
What do you show as investment proof if investment is to be done at a future date? I have a life insurance whose premium is due in March. What can I submit now as proof for this declaration?

like

I lost money in my post tax 401k. When i roll over post tax 401k to Roth IRA, do I get a tax credit for the loss?

like

Completely forgot about fishbowl for 8 months and just seeing the bitcoin bowl after a while. Is there still life in here? What are people’s sentiment towards crypto, bitcoin and ethereum?

Safest place to stake coins with best return?

like

Didn't renew lease. Scared I wouldn't be able to find the next home, especially an affordable one with this current market.

They should extend covid rates

likefunny

Has anyone been told they need 25% down for a vacation home?

like

Monday Wordle :

Wordle 401 5/6

⬛🟨⬛⬛🟩
⬛🟨⬛🟨🟩
⬛🟩🟩⬛🟩
⬛🟩🟩🟩🟩
🟩🟩🟩🟩🟩

like
like

More Posts

like

How soon after a final interview with a DM is ok to call and follow up on a job potential?

like

Good book recommendations? Male 🐟 here.

like

Hey guys
I wanted to know how much Salesforce support Engineer gets paid in India

like

Hello People if God! How is everyone doing? I hope and pray you continue to seek the Lord during this time. He is with us at all times and will supply our needs. I think this is a huge season of pruning. Old things falling off, making room for the new. It’s been a challenge for sure, but the outcome is Growth! Anyone else feeling like this is a season of Growth?

likehelpful

Been interviewing for two months for an in-house position. Is this standard?

like

Can someone get rid of these dam bugs?

likefunny
like

What’s the oldest watch you have? Excl digital and quartz watches as those things last forever.

like

All this advertising / olympic sponsorship has me craving an Omega

like

Is this watch too big for my wrist?

Post Photo
like

Hi everyone HELP! I was lucky enough to receive two job offers, one in SNF/LTC one in oncology outpatient setting. Looking for any tips from people that have worked in either setting or both??
Some background I am coming from a inpatient hospital setting. Thank you!

like

Who is everyone voting for this coming city election? I don't want another four years of John Tory.

like

Hi all,

I have 4.5 years of experience in .net technologies
Skills - Mvc 5, winform, Wpf, Sql server

Please let me know if there any vacancies

like
like

Anyone have experience with Huron Consulting? They reached out about a position but I'm not too familiar with them.

like

My inboard portal is showing wrong dob and phone number and i m recieving mails to complete the document process plus the hr is not responding to my mails or calls. Should I submit the documents or wait for them to respond??

like

Is AAS a good area to gain transferable skills and learn a lot? Comparing to audit.

What professional organizations in this field are you a part of or do you recommend joining? SHRM,ATD,OD Network?

like

Any chance of meeting smo serious on Tinder? I know it's mostly a hookup site, but have you met any exceptions?

like

Additional Posts in Tax Bowl

Have an interview with BDO today. Can anyone advise what their busy seasons are like? I know they’ve been growing like crazy through acquisitions. Thanks!

like

Has anyone worked at CFGI? How does the work life look like? I’m potentially pursuing an opportunity and any insight is very much appreciated!

like

Suggestions needed. Got offer from other Big4s with same money offer. Got to talk to very great partners, and practices/work-life balance are very similar across all 3 firms. Currently more toward DT but only cuz I know more people there so I feel less nervous going there. When it comes to turning down offers, what other professional reasons can I provide?

like

List the college you went to. When you graduated. How much you pay monthly on student loans and when you think you will be done.

like

How is the Asset Management group at KPMG? Specifically NYC office. Are you understaffed at manager and senior manager level? Any SMs in KPMG NYC here? please DM me.

like

1/3 Question on tax treatment of nonpriority unsecured claims converted into long-term note decreased total liabilities under Chapter 11. An accrual based C-Corp taxpayer completed a Chapter 11 reorganization and converted a total of $1M A/P to suppliers into a $410K LT note (a $590K liability reduction). Should we view this $590K as the Sec. 108(a)(1)(A) excludable income? After reading through IRS Pub 4681, I think it makes sense to view the $590 as "Reduced Price After Purchase", but not

like

Looking to hire senior level+ with CPA and Private Wealth experience. Come join our cult...excuse me, team.*

How many YOE do firms normally look at for an SM1 role

like

Women in PA - talk to me about times you’ve felt marginalized in the workplace

like

Any thought on tax resolution or going to work for a tax resolution firm?

Anybody work remotely in North Dakota for a firm in HCOL?

like

Can someone please explain how WAC% are computed?

like

I got an offer in industry! Feeling excited but at the same time very confused. It’s a good offer that I don’t want to pass up but also feel extremely bad leaving during busy season. Is a 3 week notice enough? Do I let this opportunity go and just hope something will line up down the road ? Thoughts ?

like

Today’s my bday. Also my beloved family dog is getting put to sleep due to cancer. I didn’t take the day off today for either reasons. Do I have my priorities messed up right now?

like

Is there 163j tax implication if there is a loss and some business interest expense.
Simple financials statement scenario.

like

Are any of the firms hiring for part time/primarily remote tax professionals? Is anyone aware of industry positions like this? I moved to industry a year ago but am realizing I’d really like to be 20-25 hours per week and WFH as frequently as possible. 10 years experience in primarily federal income tax/asc 740

like

Posted in a different bowl but no one from tax responded. How long did it take you and what level did you reach milestone base salaries ($100k, $150k, $200k)?

like

Currently a senior in BTS/private wealth. EY and KPMG reached out to me. Out of Deloitte, EY, and KPMG, which is best in salary, WLB, remote positions, overall?

How do you deal with a senior/ manager who always put you on a last minute jobs that prepared from a poor outsourced preparer?

like

Any advice on going from Corporate Tax (1120 Tax Returns, ASC 740 (Prov Preps/Audits) to Transactions Tax? Senior 1 currently.

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal