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How Inflation and Supply Chain Disruptions Can Increase Your Business’ Tax Bill

Withum

JUNE 1, 2022

Unfortunately, a deteriorated supply chain and increased inflation most likely will increase the tax bill for businesses that use the LIFO method of accounting. Utilizing LIFO when costs are rising due to inflation is generally advantageous for income tax purposes because sales prices are offset by higher inflated purchase costs.

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Year-End Tax Planning Strategies for Businesses

KROST

NOVEMBER 24, 2020

In the last few months of the year, it is important to consider year-end tax planning opportunities, as many may provide both immediate and long-lasting financial benefits. We have compiled a checklist of additional actions based on current tax rules that may help you save tax dollars if you act before year-end.

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tax planning Tax California income tax

Accountant Advocate

How Inflation and Supply Chain Disruptions Can Increase Your Business’ Tax Bill

Year-End Tax Planning Strategies for Businesses

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