- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
I agree with @Anonymous_ on the purchase of the cleaning business.
Essentially you purchased the "assets" of the business, and these assets are intangibles.
As noted, this cost will be amortized over a 15 year period.
I don't have an understanding of what the purchase of clients via Thumbtack involves, so I can't provide any guidance on that component.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
Also keep in mind the date of replies, as tax law changes.
‎January 3, 2023
10:47 AM