Updated July 24, 2015
Import Export Inventory Chicago Illinois
One of the issues that we deal with in Import / Export Accounting is when does a shipment of inventory actually become our property?
Is it ours when they put the container on the ship in China, or is it ours when it is delivered to our warehouse? From the standpoint point of the inventory value of a load, do we include the cost of shipping it from the warehouse to the customer? If it gets damaged on the way to the customer, and it is returned, what is it worth?
The correct answer to these questions could greatly reduce your income taxes.
If you are having problems with your Import Export Inventory Chicago Illinois or have issues with your accounting in general, we would love to help. I enjoy hearing from my readers, and can be contacted at
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Chris Amundson is the President of Accounting Solutions Ltd., a full service public accounting firm of Certified Public Accountants and Enrolled Agents handling the bookkeeping, accounting, tax preparation, and audit representation needs of Businesses, Estates, Trusts, and Upper Income Individuals