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FIFO Archive

LIFO: Tax Treatment of Inventory

TweetShareSharePin0 Shares Key Findings Last-in, First-out (LIFO) and First-in, First-out (FIFO) are two methods of inventory accounting used for both financial accounting and tax purposes. Both LIFO and FIFO rely on the accounting principle of deducting costs from income when goods are sold. This principle often comes into conflict with the economic principle of deducting

Fixing Tax Treatment of Capital Investments

TweetShareSharePin0 Shares The breakdown of supply chains both domestically and worldwide currently dominates headlines. One strong explanation of supply chain failures is the dramatic increase in federal spending throughout the pandemic—raising aggregate demand—combined with the COVID 19-era shift of consumption from services to physical goods. That, coupled with preexisting issues that limit the ability of

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