Tangible (and legal) tax breaks for intangibles

July 1, 2004

The Internal Revenue Service has issued guidelines for expenditures related to intangible assets. These guidelines apply, however, not to the complex tax treatment of the intangible assets of your practice such as goodwill, licenses, leases, and patient/client lists, but to deductions for the costs of acquiring, creating, or enhancing those intangible assets.