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Can someone explain how to calculate deferred tax expense/benefit?

Deferred Tax Expense/Benefit
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Michael Baum, EA
Please identify the type of tax to which your question applies.[i.e. income, real estate]and, also the specific circumstances. If the taxpayer is a cash basis one, [individuals and some businesses] then you can only deduct any tax in the year actually paid.
Reply 417 weeks ago
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Tax Professional Answers

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Jeff Johnson
Typically, deferred tax expense (or benefit) is the change during the year in an entity’s deferred tax liabilities and assets. However, the change in certain deferred tax items (such as OCI-related balances) do not run through the P&L, so this definition is not universally applicable.
Leave a Comment 359 weeks ago


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