Term
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Definition
-federal income tax expense
-excess capital losses
-income not included in books (prepaids, royalties, interest)
-expenses not included in book (accrued contingent liabilities, key person premiums, excess charitable contributions) |
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Term
| Subtractions from book income |
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Definition
-income not for taxes (interest on municipal bonds, key person proceeds)
-expenses not for taxes (dividend received deduction, charitable contribution carryovers) |
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Term
| federal income tax expense |
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Definition
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Term
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Definition
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Term
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Definition
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Term
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Definition
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Term
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Definition
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Term
| charitable contributions in excess of 10% |
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Definition
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Term
| interest on municipal bonds |
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Definition
| subtract from book income |
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Term
| insurance proceeds on key-person life insurance |
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Definition
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Term
| dividend received deduction |
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Definition
| subtract from book income |
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Term
| charitable contribution carryovers |
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Definition
| subtract from book income |
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