What is the difference between permanent and temporary book-tax differences?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Permanent booktax differences arise fromitems that are income or deductions during the year for either book purposes orfor tax purposes but not both Permanent differences do not reverse over timeso over the long run the total amount of income or deductions for the items is differentfor book and tax purposes In contrast temporary booktax differences arethose booktax differences that reverse over time such that over the longtermcorporations recognize the same amount of income or deductions for the items ontheir financial statements as they recognize on their tax returns Temporarybooktax differences arise because the income or deduction ...View the full answer
Answered By
Mustafa olang
Please accept my enthusiastic application to solutionInn. I would love the opportunity to be a hardworking, passionate member of your tutoring program. As soon as I read the description of the program, I knew I was a well-qualified candidate for the position.
I have extensive tutoring experience in a variety of fields. I have tutored in English as well as Calculus. I have helped students learn to analyze literature, write essays, understand historical events, and graph parabolas. Your program requires that tutors be able to assist students in multiple subjects, and my experience would allow me to do just that.
You also state in your job posting that you require tutors that can work with students of all ages. As a summer camp counselor, I have experience working with preschool and kindergarten-age students. I have also tutored middle school students in reading, as well as college and high school students. Through these tutoring and counseling positions, I have learned how to best teach each age group. For example, I created songs to teach my three-year-old campers the camp rules, but I gave my college student daily quizzes to help her prepare for exams.
I am passionate about helping students improve in all academic subjects. I still remember my excitement when my calculus student received her first “A” on a quiz! I am confident that my passion and experience are the qualities you are looking for at solutionInn. Thank you so much for your time and consideration.
4.80+
2+ Reviews
10+ Question Solved
Related Book For
Taxation Of Individuals And Business Entities 2015
ISBN: 9780077862367
6th Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
Question Posted:
Students also viewed these Business Law questions
-
1 30 2 3 4 If A= = -1 2 1,B= 1 23 0 02 -1 1 2 5 9 13 (a) -1 2 4 -12 4 1 24 (C) -1 2 4 -2 24 then AB= 5 (b) -1 9 13 24 -2 2 4 (d) None of these
-
The rush-hour traffic flow for a network of four one-way streets in a city is shown in Figure 2. The numbers next to each street indicate the number of vehicles per hour that enter and leave the...
-
On January 1, the total market value of the Tysseland Company was $60 million. During the year, the company plans to raise and invest $30 million in new projects. The firms present market value...
-
What is the difference between permanent and temporary book-tax differences?
-
A firm can manufacture a product according to the production function Q = F(K, L) = K3/4 L 1/4 a. Calculate the average product of labor, APL, when the level of capital is fixed at 16 units and the...
-
DIRECTIONS. Analyze the situation and answer the question on a separate sheet of paper. One of the VP for Finance of the Financial Manager is to determine the appropriate capital structure of the...
-
For the current year, LNS corporation reported the following taxable income at the end of its first, second, and third quarters. What are LNS's minimum first, second, third, and fourth quarter...
-
Last year, JL Corporation's tax liability was $900,000. For the current year, JL Corporation reported the following taxable income at the end of its first, second, and third quarters (see table...
-
Does it make sense for a bank in the United States to borrow from the discount window and use those reserves to support business or consumer loans?
-
Lotus company incurred the following maintenance costs during the past 9 months: Table 1 Months Room occupancy 1 120 2 210 3 50 4 160 5 430 Cost $ 4560 9780 2920 8280 20320 6789 6 80 3920 325 17140...
-
Ms. Jessie Waud found a position in retail sales in September 2021. During the remainder of that year, she received gross employment income of $21,500. Prior to 2021, Ms. Waud had no earned income...
-
Lotus company incurred the following maintenance costs during the past 9 months: Table 1 Months Room occupancy 1 120 2 210 3 50 4 160 5 430 Cost $ 4560 9780 2920 8280 20320 6789 6 80 3920 325 17140...
-
Sleep Tight, Inc., manufactures bedding sets. The budgeted production is for 33,000 comforters this year. Each comforter requires 1.5 hours to cut and sew the material. The cost of cutting and sewing...
-
You are risk neutral and the risk free rate is 10%. There is no bid-ask spread or trading fee when investing at the risk free rate. Stock A: Expected price at t = 3 is $200. There is no bid-ask...
-
In Figure two particles are launched from the origin of the coordinate system at time t = 0. Particle 1 of mass m1 = 5.00g is shot directly along the x axis on a frictionless floor, with constant...
-
Write a program that initializes an array. It inputs a value from the user and searches the number in the array.
-
In April, Cranson was asked to invest in a new business corporation that was about to be created. He agreed to purchase stock and to become an officer and director. After his attorney advised him...
-
Berger was planning to produce a fashion show in Las Vegas. In April 1965, Berger entered into a written licensing agreement with CBS Films, Inc., a wholly owned subsidiary of CBS, for presentation...
-
Frank McAnarney and Joseph Lemon entered into an agreement to promote a corporation to engage in the manufacture of farm implements. Before the corporation was organized, McAnarney and Lemon...
-
Lower-of-Cost-or-Market Inventory On the basis of the following data: Inventory Cost per Product Quantity Unit Market Value per Unit (Net Realizable Value) Model A 27 $153 $146 Model B 10 216 222...
-
2 Which fields should be included in the INVOICELINE (INVOICEDETAIL) table? (6 points) Choose all that apply. Invoice# Invoice Date Order Date CustID Item# Description Price Qty Co. Phone Contact
-
4 On February 1, 20X2, Ava Corp purchased Beta Ltd for $445,000. At that date, Beta reported net assets as follows: Assets Book value Fair value Cash 10,000 10,000 Liabilities A/P A/R 60,000 60,000...
Study smarter with the SolutionInn App