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Future income taxes are upcoming tax costs or savings due to discrepancies between financial statements and tax returns.

A deferred tax asset is usually an item on a company's balance sheet that was created by the early payment or overpayment of taxes. They are financial assets that can be redeemed in the future to ...

When planning for retirement, most investors concentrate on what to invest in—stocks, bonds, cash, and other assets. But an equally important, and often overlooked, decision is asset location—which ...

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 ...