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How Inflation Drives LIFO (Last-In-First-Out) Planning
April 5, 2022 @ 12:00 am
With inflation on the rise, now is the time to look at the Last-In-First-Out (LIFO) inventory method for potential tax benefits. Whether you are a manufacturer, distributor or retailer, you have the opportunity to mitigate the current negative impact of price increases and annually save money. Inventory is one of the largest line items on the balance sheet and often a company’s most important asset.
What type of businesses make a LIFO election?:
- Any business with over $2M in inventory that is experiencing inflation
- Any business with low inventories and high inflation due to supply chain issue
Please join us for a 60 minute complimentary webinar to determine if you can benefit from a LIFO selection.
Please contact Kathleen Baldwin, Sales Support Manager at NJMEP with any questions or need of further assistance. firstname.lastname@example.org 973-998-9801 ext. 211