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Business sales contract broke out the sales price into various catagories: covenant not to compete, customer database/client list and contracts (with a list showing how much each was being sold for based upon its life). When he checked the amortization which was on the audit notice list of items, he carefully calculated the entire list each with its contract life. Since he was a field auditor, he was more thorough than I am used to in an office audit. I was surprised at the lengths he went to verify certain calculations. I didn't do a thing, really. After 5 days of this, we ended up in a draw, about the same amount of money on both sides but my adjustments got SET back whereas his were short term capital gains (client failed to tell me they kept money personally from the sale of a corporate asset). Breakeven for my client after my fees.

How about the new kinder IRS?
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