Client went into business in 2002 and paid $18,935 franchise fee, which was set up as a 15 year amoritization. In September 2005, he ended business due to losses in previous years and going further in hole in 2005. Remaining amortization of $15,884 can be written off as loss in 2005, correct??
Announcement
Collapse
No announcement yet.
Franchise Fee
Collapse
Disclaimer
Collapse
This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.
Comment