Consumer Reports, she is an professional in credit and also debt, retirement planning, home ownership, employment issues, and also insurance. She is a graduate of Bryn Mawr College (A.B., history) and also has an MFA in artistic nonfiction from Bennington College." data-inline-tooltip="true">Julia Kagan
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Janet Berry-Johnson is a CPA via 10 years of experience in public audit and also writes around earnings taxes and tiny company accountancy.

What Is Income Tax Payable?

Income tax payable is a form of account in the present liabilities area of a company's balance sheet. It is compiled of taxes due to the government within one year. The calculation of income taxation payable is according to the prevailing taxation legislation in the company's home nation.