Discussion:Sale of Business - Goodwill

From TaxAlmanac, A Free Online Resource for Tax Professionals
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.

From TaxAlmanac

(Difference between revisions)
Jump to: navigation, search

JGCPACFP (Talk | contribs)
(New Discussion)
Next diff →

Revision as of 00:36, 12 October 2007

Discussion Forum Index --> Basic Tax Questions --> Sale of Business - Goodwill
Discussion Forum Index --> Tax Questions --> Sale of Business - Goodwill

JGCPACFP (talk|edits) said:

12 October 2007
I have a client who sold her bookkeeping business (started from scratch) for $400,000. $375,000 has been allocated to "intangible assets" (i.e. client list, goodwill, etc., but not specifically identified in sale agreement). Is this amount subject to ordinary income tax rates or capital gain rates?
Retrieved from "http://www.taxalmanac.org/index.php/Discussion:Sale_of_Business_-_Goodwill"