A deferred tax liability is a tax that is assessed or is due for the current period but has not yet been paid. A deferred tax liability records the fact the company will, in the future, pay more income tax because of a transaction that took place during the current period, such as an installment sale receivable.

Curtis Ray took the liberty to explain what the difference between the two using math. Giving the same number scenario and breaking down in a simple, easy to understand comparison. You'll find the podcast surprising in a lot ways once broken down.

I'm Curtis Ray, Always Be Compounding™!

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