A mistake made in a taxpayer’s last-in, first-out (LIFO) computation may repeat in later-year returns if staff preparing the computation take a “same as last year” approach. When the mistake ...

The esoterica of tax accounting isn't terribly exciting. In fact, it can be downright headache-inducing for those of us who aren't CPAs. However, when your cash flow is in danger of taking a big hit ...

During the 1998 to 2002 stretch, scrap dealers may have forgotten how to think in terms of protecting profits from tax collecting agencies. But 2004 will almost certainly be a year when such thinking ...