Pretty strong tax incentive to write it off completely no?
@henlaubpic.twitter.com/dURnZPEnKJ
-
write offs of goodwill/intangible assets are not tax deductible expenses in the USA.
Really? Thanks! So the non-goodwill intangibles will just be marked down using normal accelerated depreciation? Are you 100% sure about this btw? There's gotta be a way to write down this shit if you buy a company that implodes, no?
-
-
I'm not 100% sure. But AFAIK, to get the deduction you have to actually shut the business down, close locations. Otherwise it would be abused by aggressive, fake writedowns. Goodwill/intangibles don't get a deduction under IRS rules unless you specifically shut down the biz
-
I think it used to be allowed but the law was changed in the US because of abuses by the cable industry. In canada, you can get a straight-line tax deduction of 7% per yr of the value of your goodwill. thus why a lot of the acquisitive companies in Canada have such low tax rates
- 1 more reply
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.