Definitions Related to Intangible Assets
There are certain terms the IRS and tax professionals use in reference to intangible assets. Below, you'll find two key definitions you should learn before you file your next federal tax return.
Going Concern Value
The value attached to the ability of a business to continue to function and collect income without interruption, even after an ownership change.
Workforce In Place
The portion of a purchase price attributed to a trained, experienced workforce in place as of the date of acquisition.