[TenTec] Tax on Inventory

[Rick - DJ0IP / NJ0IP]

Thank God we have government helping business succeed!
Long live bureaucracy! ;-)


-----Original Message-----
From: tentec-bounces at contesting.com [mailto:tentec-bounces at 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 at contesting.com
http://lists.contesting.com/mailman/listinfo/tentec