Deferred Taxes

Question 1

Future Taxable Income > Future GAAP Income

Answer 1

Deferred Tax Liability (DTL)

Question 2

Future Taxable Income < Future GAAP Income

Answer 2

Deferred Tax Asset (DTA)

Question 3

Future Taxable Income = DTL or DTA?

Answer 3

Deferred Tax Liability (DTL)

Question 4

Future Tax Deductions = DTL or DTA?

Answer 4

Deferred Tax Asset (DTA)

Question 5

Tax Depreciation > GAAP Depreciation

Answer 5

Deferred Tax Liability (DTL)

Question 6

Tax Depreciation < GAAP Depreciation

Answer 6

Deferred Tax Asset (DTA)