Deferred Income Tax

Deferred Income Tax,

Deferred Income Tax: What is the Meaning of Deferred Income Tax?

Different recognition of income between tax laws and companies' accounting methods results in late tax liability in the balance sheet. Therefore, it may be that the income tax payable by the company does not meet the declared value of the expenses.

  • Different income between tax laws (ie IRS) and accounting principles (ie GAAP).
  • The appropriate income tax balance sheet is shown in the liability.
  • The difference between the depreciation method used by the IRS and the GAAP is the most common cause of late income tax.
  • Deferred taxes can be classified as short-term or long-term liabilities.

Literal Meanings of Deferred Income Tax

Deferred:

Synonyms of Deferred

yield, capitulate, put back, bow, accede, give in, carry over, give way, hold over, submit, delay, put off, postpone, acquiesce, knuckle under, hold off, adjourn, surrender

Income:

Meanings of Income:
  1. The work you earn for regular work or investment.

Sentences of Income
  1. Have a good house and a decent income

Synonyms of Income

wages, remuneration, emolument, pay, salary, earnings, stipend

Tax:

Meanings of Tax:
  1. Tax (on something else)

  2. Large demands (power or resources)

  3. Confront a crime or offense (from someone).

  4. Investigation and evaluation (file fee)

  5. Mandatory taxes levied by the state, employees' income and company profits are taxed by the government, or some goods, services and transactions increase in value.

  6. One type or more demand.

Sentences of Tax
  1. Hardware and software are taxed at 7.5%

  2. He knew that the next test would test his full strength.

  3. Why are you blaming me for these baseless allegations?

  4. Government employees who collect expenditure accounts

  5. Higher taxes will reduce consumer spending

  6. Readers' attention more

Synonyms of Tax

stretch, fee, encumbrance, impost, put a strain on, burden, strain, denounce, excise, weight, demand a tax on, duty, weigh heavily on, charge, contribution, levy a tax on, blame, confront, censure, weigh down, make demands on, stress, toll

Deferred Income Tax,

What is The Definition of Deferred Income Tax?

Deferred Income Tax can be defined as, Deferred tax is an obligation recognized in the balance sheet that results in a differentiation of income between tax laws and corporate accounting practices. Therefore, the income tax payable by the company cannot be in line with the total declared tax expenses.

  • Delayed income tax results in the identification of income that differs between tax laws (IRS) and accounting principles (GAAP).
  • Delayed income tax is presented as a liability on the balance sheet.
  • The difference between IRS and GAAP depreciation rates is the most common cause of late income tax.
  • Deferred income tax can be classified as short-term or long-term liability.

Literal Meanings of Deferred Income Tax

Deferred:

Meanings of Deferred:
  1. In motion (an action or event) in motion.

  2. Offer or give credit.

Sentences of Deferred
  1. Rely on the superior knowledge of the team.

Synonyms of Deferred

stay, respite, put in cold storage, respect, comply with, mothball, remit, put on the back burner, hold over/off, table, prorogue, honour, pigeonhole, suspend, continue, take a rain check on, agree with, shelve, truckle, put over, put on ice

Income:

Meanings of Income:
  1. As usual for funds, especially work or investment.

Synonyms of Income

receipts, gains, revenue, means, turnover, incomings, profits, proceeds, money received, dividend, takings, take

Tax:

Meanings of Tax:
  1. Mandatory contribution to government revenue, which is taxed by the government on workers' income and company profits, or is included in the price of certain goods, services and transactions.

  2. Make big demands on (someone's power or resources).

  3. Testing and review (case costs)

Sentences of Tax
  1. Income is taxed at the highest rate.

  2. He knows that he must have all the strength in the coming test.

  3. Government employees who keep track of expenses.

Synonyms of Tax

obligation, arraign, drain, tire, impeach, condemn, encumber, tariff, weary, cess, exhaust, pressure, indict, push too far, task, overload, exact a tax on, tribute, empty, load, weaken, mulct, assessment, responsibility, bring charges against, wear out, charge duty on, overwhelm

Deferred Income Tax,

How Do You Define Deferred Income Tax?

  • Deferred Income Tax means: Deferred Income Tax is a liability listed on a balance sheet that results from the different identification of income between tax laws and companies' accounting practices. Therefore, the income tax payable by the company does not correspond to the total declared tax expenses.

    • Deferred income tax results come from the identification of income that differs between tax laws (ie IRS) and accounting principles (ie GAAP).
    • Late income tax is presented as a liability on the balance sheet.
    • The difference between IRS and GAAP depreciation rates is the most common cause of late income tax.
    • Deferred income tax can be classified as short term or long term liability.

Literal Meanings of Deferred Income Tax

Deferred:

Meanings of Deferred:
  1. Moving (action or event).

Synonyms of Deferred

hold in abeyance, lay on the table

Income:

Sentences of Income
  1. Have a good home and a decent income.

Tax:

Meanings of Tax:
  1. An integral part of government revenue, which is taxed by the government on workers' income and company profits, or is included in the cost of certain goods, services and transactions.

  2. Check and evaluate (case costs).

Sentences of Tax
  1. Reader Attention Overload

  2. The highest income tax is levied.

  3. He knows that he has to do his best in the coming test.

Synonyms of Tax

tithe, point the finger at, worry, accuse, fatigue, overwork, imposition, enervate, care, liability, call to account, incriminate, sap, prosecute, try, onus, dues, customs, impose a toll on