I am modeling out a company that has been experiencing NI losses (and pre-tax income losses) over the last few years and recently has started turning a profit. In attempting to figure out what taxes will be next quarter and for the full year, what is the best way to do this? I am not looking for perfect precision here (As in based on the differences in D&A for tax reporting versus D&A reported for GAAP etc...) I just wondering is there a good rule of thumb or simpler method. I guess my question applies to two tax numbers 1.) the income tax expense reported in the income statement and 2.) cash taxes as is often supplied as suplemental infomation at the bottom of the Cash Flow Statement.
I did not find the right solution from the internet.
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