Talking Tax Reform: ADIT, Depreciation, and Building Your Solid Foundation

Talking Tax Reform: ADIT, Depreciation, and Building Your Solid Foundation

In this episode, Panpilas Fischer returns and is joined by Utility Tax Titan Cavan Hayes to discuss accumulated deferred income taxes (ADIT), the role of depreciation, and the importance of data integrity. They explore the collaboration required between tax and regulatory teams to maintain accurate records and the challenges faced in ensuring that all elements align correctly. The conversation also delves into the evaluation of deferred taxes under APB 11 and FAS 109, as well as the implications of calculating ARAM. Our dynamic tax duo concludes with insights on the importance of maintaining a solid foundation for tax computations, regardless of rate change occurring.

Talking Tax Reform: How to Prepare for Tax Reform Today

Blake is joined by Scott Lampert, Craig Wheeler, and Tom Syner, an experienced tax trio with decades of supporting clients with tax expertise. We're focusing on how maintaining an accurate historical tax basis and validating your accounting system configuration today, is elemental to being tax reform-ready when changes arise.

Talking Tax Reform - TCJA War Stories

In this episode, Elhadj Bah welcomes special guest Panpilas Fischer to discuss the implications of potential corporate tax rate changes by reflecting on the Tax Cuts and Jobs Act (TCJA) of 2017. Panpilas gives us her war stories from her time as a Regulatory Tax Director when the TCJA "bomb" dropped and shares her insights for what could be coming soon with rate changes. Timestamps 00:00 - Introducing Panpilas 04:17 - When the TCJA Bomb Dropped 10:29 - How Panpilas' Department Found Success During TCJA 19:04 - Comparing Past and Future Tax Changes 26:38 - Advice for Utility Tax Departments 34:34 - Final Thoughts

Tax Planning In An Uncertain Environment

Key takeaways * The 2017 tax reform posed significant challenges for utility companies. * Accurate modeling is crucial for understanding the impact of tax changes. * Starting with a correct baseline is essential for accurate calculations. * Proactive preparation can mitigate surprises during tax law changes. Timestamps 00:00 Introducing Scott! 02:56 The Impact of 2017 Tax Reform on Utilities 05:48 Understanding the Complexity of Rate Changes 09:07 Modeling Approaches for Rate Changes 11:55 Inputs and Methodologies in Tax Modeling 15:12 Advantages and Disadvantages of Modeling Approaches 18:06 Key Considerations and Gotchas in Tax Modeling 20:57 Consolidated Rates and Their Challenges 24:04 Ensuring Accuracy in Forecasting Results

Talking Tax Reform - What is Coming?

Let's talk Tax Reform! The possibility of another round of federal tax reform is on the horizon. How will rate changes effect utility finance? For this new series of episodes, we're giving the mic to utility tax experts to walk us through it all. * How utility tax teams are responding to discussions of federal tax rate changes. * Lessons learned from the last major tax overhaul (TCJA 2017). * Best practices for modeling tax rate changes and ensuring system readiness. * Strategies to prepare teams and tax systems for upcoming reforms. Key Takeaway: While tax reform is unpredictable, preparation doesn’t have to be. The utilities that start planning now will be best positioned to respond when new legislation takes effect.