Business Journal Article Supports LIFO Preservation
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. Williams Resolves to Protect American Business, LIFO Method
Rep. Roger Williams (R-TX) submitted the following concurrent resolution, H.CON.RES.69, to protect the use of LIFO for American businesses.
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.
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.
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.
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 […]
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.