In June we forced income before taxes to be zero.  There was a $262.00 tax asset posted in June and jumped to $54K in July.  We did not force income before taxes to be zero for July.  July income before taxes was a loss of $157K.  $54K tax asset is about 1/3 of this which seems logical so I think that July is okay.    I don't understand how the June tax asset of $262.00 was generated.

This company the TB and 1581 the related payroll company is shutting down and we have to reverse everything on this company by October.  Is there special considerations that we need to make on this company in this process.

As always shanks for your help.


Felecia and Karen