The prepayment must be for the purchase of feed, not just a deposit. The prepayment must be for a business purpose, not just to reduce tax liability. The deduction resulting from the prepayment must not materially distort income. Rent or lease payments for equipment and buildings are deductible farm expenses.
Work in process, work in progress, (WIP) goods in process, or in-process inventory are a company's partially finished goods waiting for completion and eventual sale or the value of these items. These items are either just being fabricated or waiting for further processing in a queue or a buffer storage.
The newly released Progress Report shows how these actions are moving forward and highlights new opportunities and heightened priorities to advance the Cityâs goals. The Portland Plan builds on the successes of that plan and blazes a path for the next 25 years for a prosperous, educated, healthy and equitable city. Unlike past plans, the Portland Plan focuses not just on places but also on people.