Income Taxes

Estimated ordinary income tax on operations can be calculated on either a cash or accrual tax basis based on Inputs by the User for several different graduated income levels and tax rates for two different types of government taxing authorities (ex. in the USA, Federal and State).

The cash flow projection will reflect quarterly Income Tax estimates paid throughout the current year.

IRS 1040 Form

Accountants: The Income Statement and Balance Sheets are depicted on an Accrual basis, so differences between accrual basis income tax calculations and cash basis income tax calculations are shown under the Deferred Tax Liability category on the Balance Sheet.