Inventory Tax Planning Techniques
Companies that manufacture, produce, or sell goods to customers typically have a significant investment in inventory. Moss Adams LLP seeks to identify and implement the best practices and value ideas for each client's inventory tax accounting issues. We have an integrated service technique that helps these companies minimize the tax cost of carrying inventory.
In light of the complex array of income tax accounting methods, substantial tax savings opportunities typically exist. The tax savings generally equal one to three percent of inventories, and increases at an annual ten percent rate. The specific advantages of a comprehensive tax inventory review are:
- Substantial income tax savings each year through new costing techniques and methodologies (FIFO/LIFO/RIM)
- Reducing IRS audit exposure and controversies in inventory accounting
- Protecting cumulative historical income tax savings
- Reducing recordkeeping burdens
- Capturing tax benefits of changing vendor relationships and inventory management practices
Inventory Reduction Techniques Contacts
Western Washington
Ron Benoit
206-302-6444
Eastern Washington
Bryan Powell
509-834-2455
Oregon
Jack Baker
541-282-2047
California
Ron Rotstein
310-481-1211
