Kentucky Department of Revenue Issues Guidance on COGS

Co-Author:  Kristen Hart Recently, the Kentucky Department of Revenue issued guidance on which items are included in cost of goods sold (COGS) for purposes of computing the Kentucky Limited Liability Tax (LLET). For any activity other than manufacturing, producing, reselling, retailing, or wholesaling, no costs should be included in COGS.

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White House, Congress debate LIFO repeal

As the White House and Congress continue their debate about raising the government’s debt ceiling, one of the issues on the table is a repeal of “last-in, first-out” accounting, which would essentially mean a multi-billion dollar tax increase on companies that utilize the accounting method. President Obama and other Democratic

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Crisis communication: Because (stuff) happens

The following is reprinted with permission from the winter 2011 issue of Nonprofit Insights, our quarterly newsletter for nonprofit decision-makers: News travels fast. Bad news travels faster. The first hint might appear when your executive director takes a call from the local newspaper. “Did you know about your van

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