Accounting Services in Miami Review LIFO Rules

Accounting Services in Miami Review LIFO Rules During inflationary times, Accounting Services in Miami can reduce company’s taxable income by using the last-in, first-out (LIFO) cost flow assumption for inventories. However, the tax savings from using LIFO come at a cost. Under the LIFO conformity rule in Sec. 472(c), if Accounting Services in Miami us LIFO …

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