Thank God we have government helping business succeed!
Long live bureaucracy! ;-)
-----Original Message-----
From: tentec-bounces@contesting.com [mailto:tentec-bounces@contesting.com]
On Behalf Of Richards
Sent: Friday, September 16, 2011 11:44 PM
To: Discussion of Ten-Tec Equipment
Subject: Re: [TenTec] Tax on Inventory
In addition to what KM said... and without any contradiction to what
he said... I know many businesses pay property tax (separate from income
tax) on equipment and inventory. Sometimes our local retail stores go
short of goods just before doing the annual property tax inventory, and
stock is replenished soon thereafter. I paid local property taxes on
all my office equipment, and the local taxing authority had a different
schedule of depreciation than the County, the State, and the Feds.
So this is just ANOTHER tax affecting many small businesses. I would
hate to be a "cost accountant" in this day and age !
----------------
Happy Trails.
======================= Richards / K8JHR =========================
On 9/16/2011 07:23, Kris Merschrod wrote:
> For those not involved with this issue. If a company assembles radios but
> does not sell them in that fiscal year, then the value of those unsold
rigs
> is considered an accumulated asset and the difference between cost and
value
> is taxed. The same appies to having more, say, inductors in your supply
> room than you had at the beginning of the year.
>
______________________________________________________________
_______________________________________________
TenTec mailing list
TenTec@contesting.com
http://lists.contesting.com/mailman/listinfo/tentec
_______________________________________________
TenTec mailing list
TenTec@contesting.com
http://lists.contesting.com/mailman/listinfo/tentec
|