Inventory— Profits and Taxes

One of the most onerous chores facing every linen, uniform and facility services industry professional involves those pesky inventories. Generally, every business that produces, purchases, rents or sells merchandise is required to keep an inventory. Rental inventory refers to the items that a rental business owns and rents out to its customers.

Maintaining an inventory is done not only for tax purposes, but because it makes sense for every business to track the cost of their inventory. After all, the amount of a linen, uniform and facility services’ business investment in its inventory directly affects profits and cash flow.

...

This content is an exclusive benefit for TRSA members.

If you’re a member, log in and you’ll get immediate access.

If you are not yet a TRSA member, please join today to get access to this content and much more. You can also contact TRSA at 877.770.9274.

Join