rbynaker
Level 14
12-06-2019
04:11 PM
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$21K, that's a lot of garbage cans!
I don't think you have startup expenses for purchasing an ongoing business (I may be wrong and/or it may depend on the business) but it probably comes down to what's really going on in the transaction. I'm fine with $1K of misc "stuff" just being written off as supplies but when it's 25-30% of the total purchase price it just doesn't pass my sniff test. What's the $20,000 item that's hiding in the $5 garbage can? 🙂
Rick
I don't think you have startup expenses for purchasing an ongoing business (I may be wrong and/or it may depend on the business) but it probably comes down to what's really going on in the transaction. I'm fine with $1K of misc "stuff" just being written off as supplies but when it's 25-30% of the total purchase price it just doesn't pass my sniff test. What's the $20,000 item that's hiding in the $5 garbage can? 🙂
Rick