Discussion Post
• Briefly describe the process of computing a corporation's taxable income assuming the corporation must use GAAP to determine its book income. How might the process differ for corporations not required to use GAAP for book purposes?
• In general terms, identify the similarities and differences between the corporate taxable income formula and the individual taxable income formula.
Textbook: McGraw-Hill's Taxation of Individuals and Business Entities, 2017 Edition, Ch. 16
Corporate Income Tax Formula
KELLY OLEARY.
• What is the formula used to determine a corporation's income tax liability?
McGraw-Hill's Taxation of Individuals and Business Entities, 2017 Edition, Ch. 17
Deferred Taxes
KELLY OLEARY
• What are deferred taxes?
• Why must an organization take these into consideration?
The response should include a reference list. One-inch margins, Using Times New Roman 12 pnt font, double-space and APA style of writing and citations.