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Income Tax > Tax > Deductible Intangibles Intangibles Acquired On The Purchase Of A Business, Tax Deduction In determining business assets, hard numbers such as properties, equipments, profits, cash and other hard assets are fairly black and white. Intangible assets are murkier entities that you’ll need to try and quantify. The following are tips on some of the most common intangible business assets you can claim tax deduction for.
- Going concern value.
- Workforce in place.
- Patents.
- Copyrights.
- Formulas.
- Processes.
- Designs.
- Patterns.
- Know-how.
- Customer-based intangibles.
- Supplier-based intangibles.
- Licenses, permits, and other rights granted by a governmental unit or agency.
- Covenants not to compete.
- Franchises.
- Trademarks or trade names.
Additional Links:
Deductible Depreciation
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