Car Wash Purchase

[nickwallace85]

Looking to purchase 4 bay ss + mini storage in TX. How do I go about showing purchase of business vs real estate so I can get the taxes lowered?

 

[JGinther]

Make sure to allocate the amounts associated with Going Concern (Blue Sky, Customer list, Business Value, Whatever you call it), vs real estate as part of the contract itself. That way buyer and seller agree on amounts and the tax collector has no basis for argument.