BGSF, INC. Income Taxes Disclosure
| December 28, 2025 | December 29, 2024 | December 31, 2023 | ||||||||||||||||||
| Current: | ||||||||||||||||||||
| Federal | $ | 219 | $ | 766 | $ | 776 | ||||||||||||||
| State | (6) | 2 | (76) | |||||||||||||||||
| Total current provision for taxes | 213 | 768 | 700 | |||||||||||||||||
| Deferred: | ||||||||||||||||||||
| Federal | 1,319 | 1,045 | 97 | |||||||||||||||||
| State | 349 | 271 | 34 | |||||||||||||||||
| Total deferred provision for taxes | 1,668 | 1,316 | 131 | |||||||||||||||||
| Federal from discontinued operations | (494) | (895) | 1,857 | |||||||||||||||||
| State from discontinued operations | (103) | (819) | 248 | |||||||||||||||||
| Income tax benefit | $ | 1,284 | $ | 370 | $ | 2,936 | ||||||||||||||
| December 28, 2025 | |||||||||||
| U.S. federal statutory tax rate | $ | 2,817 | 21 | % | |||||||
| State and local income taxes, net of federal | 388 | 3 | |||||||||
| Work Opportunity Tax Credit, net | 396 | 3 | |||||||||
| Changes in valuation allowance | |||||||||||
| Unrealized capital loss carryforward | (1,029) | (8) | |||||||||
| Unrealized share based compensation | (491) | (3) | |||||||||
| Nontaxable and nondeductible items | (200) | (1) | |||||||||
| Income tax benefit from continuing operations | 1,881 | 15 | |||||||||
| Income tax expense from discontinued operations | (597) | (5) | |||||||||
| Income tax benefit | $ | 1,284 | 10 | % | |||||||
| December 29, 2024 | December 31, 2023 | |||||||||||||||||||
| U.S. federal statutory tax rate | $ | 2,265 | 21 | % | $ | 610 | 21 | % | ||||||||||||
| State and local income taxes, net of federal | 216 | 2 | (29) | (1) | ||||||||||||||||
| Work Opportunity Tax Credit, net | — | — | 299 | 10 | ||||||||||||||||
| Nontaxable or nondeductible items | (397) | (3) | (49) | (2) | ||||||||||||||||
| Income tax benefit from continuing operations | 2,084 | 20 | 831 | 28 | ||||||||||||||||
| Income tax (expense) benefit from discontinued operations | (1,714) | (10) | 2,105 | (5) | ||||||||||||||||
| Income tax benefit | $ | 370 | 10 | % | $ | 2,936 | 23 | % | ||||||||||||
| December 28, 2025 | December 29, 2024 | |||||||||||||
| Deferred tax assets from continuing operations: | ||||||||||||||
| Allowance for credit losses | $ | 290 | $ | 239 | ||||||||||
| Goodwill and intangible assets | 249 | 7,130 | ||||||||||||
| Accrued payroll and expenses | 714 | 564 | ||||||||||||
| Operating lease liabilities | 132 | 160 | ||||||||||||
| Business interest expense carryforward | 2,215 | 1,385 | ||||||||||||
| Share-based compensation | 581 | 514 | ||||||||||||
| Net operating loss carry forward | 6,768 | 767 | ||||||||||||
| Deferred tax liabilities from continuing operations: | ||||||||||||||
| Prepaid expenses and other current assets | (282) | (610) | ||||||||||||
| Property and equipment | (527) | (2,119) | ||||||||||||
| Operating lease assets | (153) | (181) | ||||||||||||
| Valuation allowance | (491) | — | ||||||||||||
| Net deferred income taxes from continuing operations | 9,496 | 7,849 | ||||||||||||
| Net deferred income taxes from discontinued operations | — | 606 | ||||||||||||
| Net deferred income taxes | $ | 9,496 | $ | 8,455 | ||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 30, 2026 | Showing above |
| 2024 | Mar 17, 2025 | |
| 2023 | Mar 16, 2023 | |
| 2021 | Mar 10, 2022 | |
| 2020 | Mar 11, 2021 | |
| 2019 | Mar 12, 2020 | |
| 2018 | Mar 12, 2019 | |
| 2017 | Mar 8, 2018 | |
| 2016 | Mar 6, 2017 | |
| 2015 | Mar 7, 2016 | |
About Income Taxes Disclosures
The income tax disclosure reveals how much a company actually pays in taxes versus what the statutory rate would predict. Analysts focus on the effective tax rate (ETR) reconciliation, which breaks down every item driving the gap between the 21% federal rate and the company's reported ETR — including R&D credits, foreign rate differentials, and state taxes. Deferred tax assets (DTAs) and their valuation allowances signal management's confidence in future profitability: a rising allowance suggests the company doubts it can use accumulated tax benefits. Uncertain tax benefit (UTB) reserves quantify exposure to IRS challenges on aggressive positions.
Key signals to watch: sudden ETR drops without clear operational reasons, large increases in valuation allowances, growing UTB balances, and significant unremitted foreign earnings. Post-TCJA, pay attention to GILTI and BEAT provisions that affect multinational tax structures. Compare the cash taxes paid (from the cash flow statement) against the income tax provision to gauge earnings quality.