Historically low levels of inventory brought on by the COVID-19 pandemic, subsequent chip shortages, a fragile supply chain, and the potential that low levels may persist through the end of 2021 are all potential threats to Last-In-First-Out (LIFO) recapture this tax year. Depending on the magnitude of the inventory decrease from 2020 to 2021, LIFO recapture could be significant. To prepare, dealers can start modeling now to assess the magnitude of the issue and their specific situation.
Join DHG Dealerships for a thirty minute webinar that will help you address LIFO recapture as it affects you and your dealership.
This webinar will cover:
- The current state of LIFO recapture
- Accounting method options or changes to consider for LIFO recapture
- Related tax considerations
- Jon Gee, Partner
- Adam Neporadny, Managing Director
- Amanda McCage, Manager