Hello,
I am thinking about buying an ecommerce business/website from flippa.com . I know that after I own the business, I can write off business expenses for tax deductions. But my question is whether the amount I pay to actually buy the business is tax deductible?
For example, if I buy an already existing company X for $10,000 does that mean company X has a business expense of $10,000 that I can write off on my taxes?
All the best,
-Steve
