bltaxes
Member Since: Dec 14th 2015
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I am currently back in public accounting on a part-time basis and having fun.
I am also in the CFP certificate program at California Lutheran University and I teach accounting at local Bay Area institutions (primarily UCSC Extension).
I am currently preparing for my series 7 and 66 exams.
Strong interest in taxation, finance, economics, and capital markets.
I spent several years working in a broad range of director and management roles in corporate tax departments, and large accounting firms.
My answers
The state taxes paid should have already been a federal deduction on the return. Generating a state refund should result in Federal taxable income. Which should be considering in valuing the Federal NOL. Just a guess. These are Hypo calculations as Book income with temporary differences does not equal the tax return. Usually these interactions are not considered material. What do you think? For provision work I have always like PWC guide. I am out of the tax provision game currently.