When the Use of a LIFO Specialist May be the Best Choice for Your Client
When I worked at Touche Ross many years ago, the idea that another CPA or professional would be a better choice to provide specialized accounting services for one of our clients would have been just about unthinkable. Things have changed a lot over the years and the use of outside service providers for accounting services […]
View full articleWhy Internal Index LIFO Inflation is Often More Volatile than PPI inflation for Manufacturers
Learn why internal index calculations have historically lower LIFO Tax benefits when compared to other inflation measure sources.
View full articleProblems that Can Arise When Using Internal Index LIFO to Calculate Inflation
The IRS Regs. allow two LIFO inflation measurement sources. LIFO taxpayers can either use: External indexes – The IRS Regs. were amended in 1982 to permit the use of the Inventory Price Index Computation (IPIC) method for which Producer Price Indexes (PPI) or Consumer Price Indexes (CPI) are used. Internal indexes – This is a […]
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