Congressman Mike Thompson (D-CA), a leading Congressional LIFO advocate, had an exchange with Obama Treasury Secretary Jack Lew this week during a House Ways & Means Committee hearing. The unofficial transcript is posted below:
The LIFO Coalition posted an update on their website today that discussed the recent release of President Obama’s 2016 budget proposal.
A Florida House of Representatives member wrote an article regarding LIFO that appeared in the Column of online news network Context Florida on January 25th, 2016. Read the full article below.
LIFO-PRO partners with the LIFO Coalition in any efforts geared towards preventing LIFO Repeal.
In over twenty years of providing LIFO Software & Calculation Services, LIFO-PRO has earned the trust and loyalty needed to maintain a strong client-base. LIFO-PRO continues to be a cost leader in LIFO Calculation Services; the LIFO-PRO Software is priced at affordable rates for companies both large and small. LIFO-PRO’s commitment to our clients does not […]
On August 14th, 2015, the Central Penn Business Journal published an article written by Cathy Kolakowski. She is the Owner of CK Bookkeeping Services based in Lower Paxton Township, PA.
Rep. Roger Williams (R-TX) submitted the following concurrent resolution, H.CON.RES.69, to protect the use of LIFO for American businesses.
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.
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.
The BLS released information regarding NAICS & PPI codes. See the tables for a summary of the different changes.
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 […]
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.
