High Inflation & Rising Inventory Costs - How Businesses Are Reducing Tax Liabilities.

FORT WORTH, Texas -- Gasoline prices have hit $4 a gallon, food prices are escalating, and inflation is in the news. However, there is at least one tool that businesses and accounting professionals can use to help turn a negative into a positive.

In an online article on Inc.com, Joseph E. Stiglitz, winner of the 2001 Nobel Prize in Economics, wrote, "Inflation also presents special problems in terms of accounting, and those who understand those problems can reduce...

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