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All CollectionsThrive UniversityCourse 5 - Inventory Count Workshop
Thrive University || Course 5, Lesson 2 || Talking Taxes with a CPA
Thrive University || Course 5, Lesson 2 || Talking Taxes with a CPA

Alex Acree, CPA, CEO of Empower T3 talks about the benefits maintaining accurate inventory counts.

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Written by Hannah
Updated over a week ago

In this lesson of Thrive University, Alex Acree, CPA, CEO of Empower T3 financial services gives us a CPA's perspective on the importance of knowing your inventory value and the benefits of maintaining accurate inventory reporting.

Inventory Count Workshop: Inventory Counts' Crucial Role in Business Taxes from a CPA

Overview:

  • Importance of Inventory Counts with Alex Acree of Empower T3

    • Trues up inventory

    • Identifies shrinkage

  • End of Year Reporting

  • Claiming Deductions

  • Other tax advantages:

    • Avoiding penalties

    • Tax credits

    • Small business tax concessions


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