Renewable Energy Tax Credits Overview Deferred Tax Asset & Deferred Tax Liability 2 days ago   03:19

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NovogradacCPAs
Novogradac's Tyler Gibbs provides an overview of how renewable energy tax credits (RETCs) work as part of the "Renewable Energy Tax Credits 101: The Basics" webinar in 2012. Visit www.novoco.com/energy www.novoco.com/training to learn more.

Do you have questions about the topics presented in this video? Submit this form (https://www.novoco.com/podcast-topic-suggestion-form) and Michael Novogradac, CPA, may answer your question on his weekly Novogradac Tax Credit Tuesday podcast, available from https://www.novoco.com/podcast or iTunes.
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Deferred Tax Asset & Deferred Tax Liability Renewable Energy Tax Credits Overview 2 days ago   17:30

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Accounting for a deferred tax asset and deferred tax liability (tax accounting vs financial (book) accounting), basic understanding of each, (A) Deferred Tax Asset: Any temporary difference that in reversing itself causes Taxable Income to be lower than Financial (Book) Income, (B) Deferred Tax Liability: Any temporary difference that in reversing itself causes Taxable Income to be higher than Financial (Book) Income, tax accounting results in tax payable where financial accounting results in tax expense, the difference between tax payable & tax expense results in either a deferred tax asset or deferred tax liability, deferred tax assets & liabilities are a result of timing (recognition) of revenues or expenses between tax accounting & financial accounting, detailed accounting by Allen Mursau

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