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Deferred Taxes...
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Deferred Taxes
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I took the accounting bootcamp and I recall the discussion regarding deferred tax; however, I tried finding some additional examples online to reinforce this concept in my mind and came across something which confuses me even more than before!
In short, I realize deferred tax is basically due to a timing difference whereby you are claiming CCA or depreciation for tax purposes faster/slower than depreciation for financial reporting purposes. Absent consideration of the time value of money, the total taxes paid will be the same because this temporary timing difference will eventually reverse. That said, can you please explain why the example below has a total depreciation amount that is different for reporting and tax purposes?
http://www.investopedia.com/exam-guide/ ... z1hubUbhMp
I'm a bit confused as to why the depreciation amount under each scenario (reporting purposes and tax purposes) does NOT equal the matching depreciation expense that is shown above under a straight line and accelerated method.
Thanks in advance for your help. Read More