I am buying a list of clients to service in my financial services practice. How do I write off, depreciate or amortize the purchase?
I've never actually had one of these, but Section 197 intangibles get amortized.
https://www.irs.gov/publications/p535#en_US_2019_publink1000208966
Client lists are amortizable, starting with the month of purchase. They have a 15 year life from that
date. Therefore, you would take straight-line amortization expense.
