Topeka Independent Business Association Founders LIFO Article

Ken Daniels, Founder of the Topeka Independent Business Association, spoke on the subject of tax reform and the LIFO Method in a August 12th article.

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August 17, 2015
By: Bob Richardson
Volatility of PPI Table 9 code 0638-0202RX- Analgesics, prescription

There was a 28% 1 month increase in February ’14, and a 26% increase in March ’14. In May ’14, RX analgesics PPI Table 9 reported a 21% 1 month decrease.

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July 24, 2015
By: Bob Richardson
New, recoded & deleted NAICS & PPI codes made, effective July 15, 2015

The BLS released information regarding NAICS & PPI codes. See the tables for a summary of the different changes.

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July 17, 2015
By: Bob Richardson
Problems 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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May 27, 2015
By: Lee Richardson
Use of PPI Indexes by Supermarkets to Increase Tax Deferral

The use of PPI LIFO inflation for inflation measurement is a tax planning idea that can significantly increase the amount of LIFO benefits for supermarkets.

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June 16, 2014
By: Bob Richardson