Goodwill is a hot topic for both GAAP and tax purposes. On the financial reporting side, FASB has been wrestling with how goodwill, once recognized, comes off the balance sheet. FASB is now offering amortization for private entities and nonprofits in lieu of goodwill impairment testing. We expect future standard setting for all entities in the near future. On the tax side, the sticking point is related to how much goodwill should be recognized at purchase and how the purchase price is allocated between assets. This course will cover these topics and more as it explores both the accounting and tax iimplications of goodwill.