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The purchase price of a business is not deductible.
Usually, the purchase price can be divided in two parts: tangible assets (such as furniture, computers, equipment) and intangible assets (goodwill, patents, going concern). Tangible assets are depreciated over their useful life. Intangible assets are amortized over 15 years.
The purchase price of a business is not deductible.
Usually, the purchase price can be divided in two parts: tangible assets (such as furniture, computers, equipment) and intangible assets (goodwill, patents, going concern). Tangible assets are depreciated over their useful life. Intangible assets are amortized over 15 years.
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