Can you deduct Worthless Goodwill on Your Tax Return?

There is a lot of discussion about goodwill nowadays. And it is generating a lot of ill will among accountants. There is good reason. FASB now requires a write down of goodwill for any impairment. On the other hand, the Internal Revenue Code, Section 197, requires the systematic amortization of goodwill on a straight-line basis […]

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