Can somebody please clarify which goes under the income statement and which goes on the tax return.
Pretax income
Taxes payable
Taxable income
Tax expense
Thanks
Can somebody please clarify which goes under the income statement and which goes on the tax return.
Pretax income
Taxes payable
Taxable income
Tax expense
Thanks
Tax expense goes to the income statement.Tax payable is the one payable to tax authorities.Pretax income is the income before tax is deducted(EBT).