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Discussion Forum Index --> Tax Questions --> Buying CPA firm clients.
DZCPA (talk|edits) said:
| 6 December 2005
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| Purchasing tax client list from a Corporation with selling price to be equal to billings obtained in first 12 months. Amortize over 15 years? or over 12 months? or ?
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Jeri Clackett (talk|edits) said:
| 7 December 2005
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| I have a similar problem with the purchase of an insurance company. Purchase price based on % of commissions rec'd from existing clients over time. My guess is to amortize some portion over 15 years (client list, covenent etc.) But is any portion actally commission exp?
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DZCPA (talk|edits) said:
| 7 December 2005
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| I'm referring to portion of purchase "client lists". Total fees charged and collected for tax return preparation from clients on list during first 12 months equals total purchase price.
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Umk395 (talk|edits) said:
| 14 December 2005
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| Absolutely amortize over 15 years as an intangible asset.
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