Complimentary Offerings

• Features
  • Current year pro forma LIFO calculations
    • Using internal inflation measurement source (internal indexes)
    • Using external inflation measurement source (external indexes; aka IPIC method)
  • 20 year pro forma LIFO calculations
  • Submethodology benefit analysis comparisons
  • Proprietary grading & scoring system based on pro forma calculation results
  • How LIFO Works Appendix
• Benefits
  • Quantify current year taxable income reduction from electing LIFO for the upcoming year end
  • Comprehensive, comparative calculation results provide complete range of calculation options in order to identify methods that will yield most advantageous tax benefits
  • 20 year pro forma calculations provide inflation trends needed to determine whether consistent & sufficient inflation has historically existed
  • Receive objective advice regarding whether your company is a good LIFO candidate & if a LIFO election is recommended
  • How LIFO Works appendix provides valuable information regarding everything you need to know about electing LIFO, including implementation steps & requirements
  • Includes sample LIFOPro report package & turnkey outsourcing solutions fee quote

• Required LIFO election benefit analysis documentation:
  • Current & prior period’s item detail reports (Also known as stock status or inventory valuation report)
  • Combined federal & state tax rate (optional; tax savings will be estimated using range of tax rates if not provided)
• See our documentation request listing here: LIFO Benefit Analysis Documentation Request
• Submit your request using one of the following options:
  • Complete online request form in Get Started Today tile below
  • Send above-listed documentation to lifopro@lifopro.com or upload here: https://spaces.hightail.com/uplink/LIFO-PRO
• LIFOPro will email you analysis report & fee quote within one week of receiving above documentation or completed request form
• LIFOPro will also contact you to schedule a time to discuss analysis results, fee quote & implementation steps upon delivering benefit analysis report
• LIFOPro will turn around calculation & deliver PDF report package as quickly as needed to meet financial reporting & tax return deadlines

Want to learn more about LIFO & our offerings? Schedule an introductory call or Teams meeting with LIFOPro by calling 402-330-8573, emailing lifopro@lifopro.com or using our online scheduling tool by clicking here: Schedule Call With LIFOPro

LIFO Election Benefit Analysis Documentation Request Listing

Sample LIFO Election Benefit Analysis Report

How LIFO Works & LIFOPro’s Offerings Slide Deck

LIFO Benefit Analysis & Turnkey Solutions Process Flow Charts

• LIFOPro offers complimentary Best LIFO Practices & Methods Reviews for companies on LIFO in the form of a report that includes the following sections:
  • Calculation review
  • Methods compliance review
  • Best LIFO practices review
  • Pro forma calculations to compare LIFO reserve of present vs. alternative submethodologies
  • Calculation policies & procedures review
  • Change recommendations & implementation steps
• Benefits include:
  • Learn about potential strategies for maximizing tax savings from LIFO
  • Detect/prevent past/future calculation errors
  • Identify potential audit exposure risk & how to eliminate/minimize it
  • Get recommendations for LIFO Submethods optimization
  • Get recommendations for simplifying calculation policies & procedures
  • Get straightforward solutions for implementing recommended change

• Best LIFO Practices Review & turnkey outsourcing solutions fee quote documentation
  • LIFO layer history/carryforward schedule from last two periods closed
  • Inflation index calculation documentation from the last period closed (also known as item detail, stock status or inventory valuation report)
  • Product hierarchies (if available)
  • LIFO calculation policies & procedures documentation (if available)
  • Any other schedules/documents not listed above used to complete prior year LIFO calculation
• See our documentation request listing here: Review & fee quote documentation request
• Send documentation to LIFOPro@LIFOPro.com or upload here: https://spaces.hightail.com/uplink/LIFO-PRO
• LIFOPro will email review report, fee quote & sample LIFOPro report package within one week of receiving above documentation (LIFOPro will also contact you to schedule a time to discuss engagement options, documentation requirements, expected/required receivables/deliverables timing)

Want to learn more about the review process & our offerings? Schedule an introductory call or Teams meeting with LIFOPro by calling 402-330-8573, emailing lifopro@lifopro.com or using our online scheduling tool by clicking here: Schedule Call With LIFOPro

• Try the software for 90 days free of any commitment or obligation by completing request form in accordion below
• Accessed via the internet using LIFO-PRO’s private cloud, meaning no installation required
• Full functionality, meaning all features are enabled
• Select from your choice of data:
  • Sample Data – comes preconfigured with the following:
    • Software database file containing sample historical LIFO calculation documentation
    • Sample software input data & templates for running LIFO calculations
    • Also can use your company’s current period input data for running LIFO calculations
  • Company Data – comes preconfigured with the following:
    • LIFO-PRO imports your company’s actual historical LIFO documentation into the software
    • Sample software input data & templates for running LIFO calculations
    • Also can use your company’s current period input data for running LIFO calculations

LIFOPro Software Overview Slide Deck
LIFOPro Software Demo – Internal Indexes
LIFOPro Software Demo – External Indexes (IPIC Method)

• LIFOPro offers free IPIC LIFO benefit analysis or case study for auto dealers considering changing to the IPIC method or electing LIFO, and will facilitate expedited turnaround to use your analysis results as the estimated LIFO estimate figure on P12 financial statement
• Includes the following:
  • Comparative IPIC CPI/PPI vs. Alternative LIFO method calculation results
  • Breakdowns of including new vehicles only vs. expanding scope to include used vehicles and/or parts
• Benefit analysis documentation requirements:
  • Breakdown of current & prior period’s inventory balances at cost by the following types:
    • New/used cars
    • New/used SUVs, trucks, vans & crossovers
    • Parts
• How to Get Started
  • Request your complimentary IPIC LIFO Benefit Analysis using one of the following methods:
  • Complete questionnaire online: Auto Dealer IPIC LIFO Benefit Analysis Request Form
  • Download questionnaire PDF file, fill in required fields & email to LIFOPro:
    • Dealers already on LIFO: Auto Dealer IPIC LIFO Benefit Analysis Questionnaire
    • Dealers not on LIFO: Auto Dealer IPIC LIFO Election Benefit Analysis Questionnaire

Recipients will receive free analysis/case study PDF report & fee quote via email within one week of questionnaire submittal, but expedited turnaround time as soon as same day can be accommodated upon request