Resources for LIFO Calculations
Many companies may be at risk of calculating the LIFO internal inflation index incorrectly. Your tax department may not have the adequate resources to accurately and efficiently account inventory for tax purposes. With increased Internal Revenue Service scrutiny regarding inventory, now is a great time to consider an inventory review.
The National Inventory team at Deloitte Tax LLP can help. We offer:
- Dedicated professionals who understand the LIFO landscape and have developed a powerful process for evaluating LIFO calculations
- An efficient process, customized specifically for your company, which can reduce the time required for your LIFO calculation to a fraction of the time it may take you now
- A simplified and flexible approach that focuses on your system data as the critical starting point, enabling you to prepare, analyze and document your LIFO calculation
- Collaboration with your team in order to leverage our methodology, fine-tune your LIFO calculation and apply the information gathered to other business needs
For more information, download the attachment below.