The change is primarily due to lower recovery of
future income taxes, depreciation and salvage expenses.
We anticipate that the Company will recover our write-down of the deferred tax asset in fifteen months through lower
future income taxes. We remain confident in our Company's future earning potential due to our strong asset quality and a vibrant local economy."
They are basically credits it could have used to pay
future income taxes. These credits built up after the big Wall Street banks took billions of dollars in losses from bad mortgages and other toxic assets.
On the other hand, the value of a Roth IRA does not need to be discounted to account for
future income taxes.
Voters also approved a cap of 2 percent on
future income taxes, with 56 percent in support.
In Robinson, 69 TC 222 (1977), the Tax Court examined whether to discount the value of installment notes in an estate for
future income taxes that the beneficiaries of those notes would pay on the income in respect of a decedent (IRD) included in future installments.
earnings attributed to the ESOP, thus permanently eliminating
future income taxes. If the ESOP ultimately becomes the sole owner of the business, all income taxes are eliminated.
That debt can only be repaid through
future income taxes to redeem the bonds in the lockbox.
A temporary, one-time decrease in a state's corporate income tax revenues over a short period of years will be more than replaced in the long run by permanent increases in state withholding taxes, sales and use taxes,
future income taxes, and other business taxes that the business will pay.
The trust is selling most of its 76 percent ownership of the company for $565 million in equity, plus $90 million in settlement of Manville's obligation for
future income taxes of the trust, according to a company spokesman.
In the end, the policy represents a decision to maintain the path of Social Security benefits and pay for them out of
future income taxes collected by the federal government.
Besides preparing taxes, a CPA is qualified to assist you in tax planning strategies so that you can reduce
future income taxes. Service from a CPA is generally more personal and comprehensive, as the CPA is concerned with helping you manage your tax liabilities.