[srevo-flashcard width="300px" height="300px" border_radius="0%" front_color="#ffffff" front_text_color="#000000" back_color="#ffffff" back_text_color="black" padding="10px"]When are deferred tax assets created?

• Deferred Income Taxes are created from differences between book (what is reported on the income statement) and cash taxes (what is actually paid to the government). 
• A deferred tax asset is created when you pay more in cash taxes than what is suggested on your book, which means that in the future you have to pay less cash taxes, an asset

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