Reasons for Congress to Keep the LIFO Inventory Method

The last-in, first-out (LIFO) inventory method has been an acceptable accounting method in the U.S. tax code for more than 75 years.

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December 6, 2017
By: Bob Richardson
October ’17 CPI Highlights

Shown below are historical inflation rates through October 2017 for selected CPI categories.

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November 15, 2017
By: Bob Richardson
October 17 PPI Highlights

On a seasonally unadjusted basis, the PPI for all commodities increased by 0.2%. Prices for final demand goods moved up 0.3 percent in October, the third straight increase.

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November 14, 2017
By: Bob Richardson
Senate Finance Committee Drafting Tax Reform Bill

Based on recent reports, sources indicate that at least two Senate Finance Committee members have stated that they favor LIFO repeal.

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November 6, 2017
By: Bob Richardson
Tax Cuts and Jobs Act: House Tax Reform Bill Details Released

The House Ways & Means Committee released the details of their tax reform bill, called the Tax Cuts and Jobs Act. See a summary & the full bill here!

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November 2, 2017
By: Bob Richardson
LIFO InfoGraphic

Click to view The LIFO Coalition, last-in, first-out inventory accounting method.

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October 30, 2017
By: Bob Richardson
Why Trading LIFO Repeal for Reduced Corporate Rates is Unsound Tax Policy

Comparatively speaking, LIFO was enacted during a time of relatively low corporate tax rates. Learn why LIFO repeal is unsound tax policy at this Blog!

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September 29, 2017
By: Bob Richardson
The Economic & Budgetary Impact of LIFO Repeal

According to the Tax Foundation LIFO repeal would reduce GDP by $11.6 billion per year & end up reducing federal revenue by $518 million annually. Read more

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September 19, 2017
By: Bob Richardson
Facts & Figures Favoring the Acceptability, Preferability & Preservation of LIFO

Summary of the defining principles of the LIFO method & authoritative references that played pivotal roles in its inception.

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August 23, 2017
By: Bob Richardson
Senators Cassidy, Isakson & Thune Seeking LIFO Repeal

Key Senate Finance Committee Members Speak Out In Favor of LIFO Repeal

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August 15, 2017
By: Bob Richardson
July 2017 CPI Highlights

The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1 percent in July on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today.

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August 11, 2017
By: Bob Richardson
July 2017 PPI Highlights

The Producer Price Index for final demand declined 0.1 percent in July, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today.

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August 10, 2017
By: Bob Richardson