advanced federal taxation calculating current and deffered income income tax provision 6 step –

“Calculating Current and Deferred Income”

  • Your client, Dave, is wrapping up his first year of business and needs your help in preparing his taxes. You explain to Dave that a company uses a six-step process to calculate its income tax provision. Identify one of the six steps and describe the step in detail, including an explanation of the issues that should be considered in that step and how it is computed.