What was the deferred income tax assets amount for 1-800-GOT-JUNK? as of December 31, 2024?

According to 1-800-GOT-JUNK?'s 2025 Franchise Disclosure Document, the total deferred income tax assets as of December 31, 2024, was $2,213,502. This figure represents the net income tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the corresponding amounts used for income tax purposes. These deferred tax assets include items such as deferred revenue, accrued license fees, allowance for credit losses, non-operating loss, and other items.

The deferred income tax assets are composed of several components. Deferred revenue was $257,678, accrued license fee was $670,450, allowance for credit losses was $28,351, non-operating loss was $1,044,395, and other deferred income tax assets totaled $212,628. These individual components add up to the total deferred income tax assets of $2,213,502 as of December 31, 2024.

The 1-800-GOT-JUNK? LLC also had non-capital losses totaling $3,905,947 available to reduce its taxable income in future years. These losses can be carried forward indefinitely, but their utilization is limited to 80% of taxable income. The deferred income tax assets are carried at their estimated net realizable value, which is determined by management based on the scheduled realization of these assets, projected future taxable income, and tax planning strategies. It's important to note that these carrying values are subject to change if management's estimates of taxable income during the carry-forward period change.