How do I deduct the purchase price/acquisition costs of a business?
I have a client, who purchased a shipping/delivery business for 150K. Included in this price are cars which I know I can list separately and depreciate. Lets say the total of the cars are only 75K. Can I amortize the remaining 75K over 15 years? Not included in this purchase price are startup costs which were probably about 350 to set up an LLC. Would I be able to list that 350 of startup costs separately and expense it immediately?