Tariffs & LIFO Series: Part Three A common concern regarding first-time LIFO adoptions is the risk of having to pay back a material portion of the election year LIFO tax benefit in future periods. This is because during deflationary periods, a certain amount of the LIFO reserve & tax benefit accumulated in previous periods will […]
Tariffs & LIFO Series: Part Two In part one of LIFOPro’s three-part series on tariffs titled How to Use LIFO to Create Tax Benefits from Tariffs, we covered the basics about how LIFO works, why companies use the LIFO method, and why the subject of tariffs will likely drive meaningful, if not historic inflation and […]
The Bureau of Labor Statistics (BLS) released April 2025 Producer Price Indexes (PPI) today. Highlights are as follows (all indexes on a seasonally unadjusted basis): Farm products decreased 2.3% in the last month and rose 4.6% in the last twelve months Processed foods + feeds rose 0.2% from March and increased 3.2% since April 2024 […]
The Bureau of Labor Statistics (BLS) released April 2025 Consumer Price Index (CPI) today. Highlights are as follows (all indexes are on a seasonally unadjusted basis): All items rose 0.3% in the last month and increased 2.3% in the last twelve months Food at home saw no change from March and rose 2.0% since April […]
Tariffs & LIFO Series: Part One Inflation is now top of mind following the White House’s announcement of tariffs ranging from 10% to 125%. Retailers and wholesalers reselling imported goods will incur increased costs, and manufacturers purchasing raw materials from foreign sources will also face higher input prices. As a result, elevated goods inflation and […]
The Bureau of Labor Statistics (BLS) released March 2025 Producer Price Indexes (PPI) today. Highlights are as follows (all indexes on a seasonally unadjusted basis): Farm products decreased 5.8% in the last month and rose 7.4% in the last twelve months Processed foods + feeds rose 0.2% from February and increased 2.9% since March 2024 […]
The Bureau of Labor Statistics (BLS) released March 2025 Consumer Price Index (CPI) today. Highlights are as follows (all indexes are on a seasonally unadjusted basis): All items rose 0.2% in the last month and increased 2.4% in the last twelve months Food at home increased 0.5% from February and rose 2.4% since March 2024 […]
The Bureau of Labor Statistics (BLS) released February 2025 Producer Price Indexes (PPI) today. Highlights are as follows (all indexes on a seasonally unadjusted basis): Farm products increased 7.4% in the last month and rose 16.7% in the last twelve months Processed foods + feeds rose 0.6% from January and increased 4.1% since February 2025 […]
The Bureau of Labor Statistics (BLS) released February 2025 Consumer Price Index (CPI) today. Highlights are as follows (all indexes are on a seasonally unadjusted basis): All items rose 0.4% in the last month and increased 2.8% in the last twelve months Food at home increased 0.1% from January and rose 1.9% since February 2024 […]
CPAs should be aware of situations for which their clients are using Specific Goods LIFO. Read the full blog article to see why
Check out our comprehensive guide containing the top 2024 LIFO opportunities and strategies for all companies Quickly find the most meaningful LIFO tax savings available this year for companies that aren’t on LIFO, but are ideal candidates, or download our complete list of 2024 top LIFO election candidates Excel file 2024 Top Tax Savings Tips […]
UPDATED 1/29/25 TO INCLUDE DECEMBER 2024 BUREAU OF LABOR STATISTICS INFLATION RATES! View/Download the PDF report version of this guide or our 2024 Top LIFO Candidates List Excel file by clicking the buttons below! LIFOPro’s 2024 Top LIFO Election Candidates List LIFOPro’s 2024 top LIFO election candidates list provides you with the ability to quickly […]
