2025 Top LIFO Election Locks In 2025, new tariffs were applied and existing tariff rates were increased to a substantial portion of goods imported into the United States. The current average effective tariff rate on U.S. imported goods is 18%, which is nearly 7x higher than the 2024 average effective tariff rate of 2.5%. Since […]
The Bureau of Labor Statistics (BLS) released September 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 3.0% in the last twelve months Food at home increased 0.5% change from August and rose 2.7% since September […]
Information About Changes Made by the BLS in PPI Table 9 Commodity Codes in 2025 In the fall of each year, we notify clients of changes made by the BLS during the past year, we notify clients of changes made by the BLS during the past year to add, discontinue or recode (PPI code not […]
The Bureau of Labor Statistics (BLS) released August 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 2.9% in the last twelve months Food at home increased 0.4% change from July and rose 3.2% since August […]
The Bureau of Labor Statistics (BLS) released August 2025 Producer Price Indexes (PPI) today. Highlights are as follows (all indexes on a seasonally unadjusted basis): Farm products fell 1.5% in the last month and rose 9.8% in the last twelve months Processed foods + feeds increased 0.7% from July and rose 4.5% since August 2024 […]
With ongoing uncertainty surrounding tariffs, we wanted to lay out the potential impacts of the court ruling on IEEPA tariffs and how that is related to LIFO. In this blog, we are breaking down the tariff statutory authorities, tariff rates & revenues by statutory authority, how LIFO tax benefits are created, the August 2025 federal […]
If your business uses the LIFO method for inventory, there’s a small but important change to Form 1125-A this year. In the past, you only had to report your closing LIFO inventory on line 9d. Starting with the 2024 version of the form, line 9d has been split into two parts. Line 9d(i) still asks […]
The Bureau of Labor Statistics (BLS) released July 2025 Producer Price Indexes (PPI) today. Highlights are as follows (all indexes on a seasonally unadjusted basis): Farm products rose 2.3% in the last month and rose 7.8% in the last twelve months Processed foods + feeds saw no change from June and increased 3.6% since July […]
The Bureau of Labor Statistics (BLS) released July 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 2.7% in the last twelve months Food at home increased 0.1% change from June and rose 2.2% since […]
The Bureau of Labor Statistics (BLS) released June 2025 Producer Price Indexes (PPI) today. Highlights are as follows (all indexes on a seasonally unadjusted basis): Farm products rose 0.8% in the last month and rose 4.0% in the last twelve months Processed foods + feeds rose 0.7% from May and increased 4.3% since June 2024 […]
The Bureau of Labor Statistics (BLS) released June 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 2.7% in the last twelve months Food at home increased 0.2% change from May and rose 2.4% since June […]
The Bureau of Labor Statistics (BLS) released May 2025 Producer Price Indexes (PPI) today. Highlights are as follows (all indexes on a seasonally unadjusted basis): Farm products rose 0.2% in the last month and rose 4.9% in the last twelve months Processed foods + feeds rose 0.6% from April and increased 3.5% since May 2024 […]
