(816) 224-4195 | support@fullertoncpa.com

Client-resources

2015 Year-End Tax Planning for Businesses #4

November 23, 2015

Inventories

Subnormal Goods: You should check for subnormal goods in your inventory. Subnormal goods are goods that are unsalable at normal prices or unusable in the normal way due to damage, imperfections, shop wear, changes of style, odd or broken lots, or other similar causes, including second-hand goods taken in exchange. If your business has subnormal inventory as of the end of 2015, you can take a deduction for any write-downs associated with that inventory provided you offer it for sale within 30 days of your inventory date. The inventory does not have to be sold within the 30-day timeframe.

Back to List


In three easy steps, our team can help you
find your path to a sustainable, profitable business
and more individual freedom.

 

mobile-graphic

Latest from Our Blog


qb-proadvisor-desktop qb-proadvisor-advdesktop qb-proadvisor-online qb-proadvisor-advonline qb-proadvisor-enterprise

Learn More

membershipmembershipmembershipmembershipmembershipmembershipmembershipmembershipmembershipmembership