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Rawnoc

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Rawnoc

Re: budge post# 126206

Thursday, 08/03/2006 5:14:03 PM

Thursday, August 03, 2006 5:14:03 PM

Post# of 275594
Yes, it sounds like you recorded a big goodwill and are slowly writing off that asset to avoid taxes. Then when you sell the asset that no longer has a goodwill account your business will show a large one-time gain and owe big taxes.

The most honest thing to do it seems is to carry a large goodwill and keep it on the books as is unless something drastic occurs to the business the writedown of goodwill takes the loss earlier than waiting to sell the underlying assets.

Raw

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