Withum

JUNE 6, 2022

The taxpayer in PLR 202221006 (March 3, 2022) is a pharmaceutical distributor that engages in the retail sale of a limited number of drugs. This second point is particularly helpful to selling shareholders who want clarity on whether their business is a QTB so they can calculate how much tax will be due on their sale of stock.

Tax 126

Tax income tax Pharmaceutical Manufacturing 126

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.

business tax 119

business tax Tax income tax tax return 119

Withum

DECEMBER 23, 2023

Small business owners have been suffering in recent years with various federal tax laws impeding their ability to operate and grow. Congressional leaders went home this week for winter recess so there is no way for a tax extender bill to be passed in 2023, but there remains a glimmer of hope for action in early 2024. Ensuring the U.S.

Pharmaceutical 52

Pharmaceutical Tax accounting and finance income tax 52

CPA Practice

FEBRUARY 8, 2023

Following another strong year of aggressive growth, Andersen , a global provider of tax, valuation, financial advisory and related consulting services, has expanded its presence in Orange County, Calif. Likewise, clients in these markets will have access to Andersen’s full suite of tax services and extensive global platform.

Real Estate 52

Real Estate Agriculture Iowa income tax 52