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Hey everyone, this is our first video request from a fan. Today we are diving into the topic of deferred taxes. Weamp;#39;ll explain all the basics of what they are on this episode so stay tuned. Also if you like the content please like, subscribe, and comment any questions or requests you might have. Okay letamp;#39;s start with the basics. So to start with the net income you see on your financial statement almost never equals the taxable income. We refer to these differences as book to tax differences. Okay but then youamp;#39;re asking what are those differences. An easy way to see the differences is a basic tax provision. We will keep it easy and stick to federal taxes from a US perspective in the US there is also state taxes that would follow a similar path based on their laws and rates; same internationally same process different laws and rates. Okay so letamp;#39;s jump into it. At the top youamp;#39;ve got your net income that comes straight o