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Technology Stocks : AUTOHOME, Inc
ATHM 22.15-2.0%Jan 9 9:30 AM EST
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To: gpowell who wrote (19347)1/31/2000 11:08:00 PM
From: KW Wingman  Read Replies (2) of 29970
 
We are doing our part to keep the thread alive.

You admit:

<There is nothing wrong with your deductive reasoning.>

Thank you, and I can read the IRS tax code too. <:}

< However, I believe you are confusing the language of goodwill as used in Generally Accepted Accounting Principles (GAAP) with the language used in the tax code.>

It is your right to believe anything you want. If you can, please explain to me how I am confusing the language of GAAP with the language used in the tax code. IMO, it does not matter what a poster on SI thinks (even if that person is a bean counter by trade), GAAP must agree with the tax code.

<It is difficult, especially for someone ignorant of how these codes are usually interpreted, to make a definitive statement on what is or is not deductible. Therefore, I have deferred to more qualified opinions; their conclusion, and this includes ATHM, is that the goodwill generated from the merger is not deductible.>

You don't appear to believe the wording of the IRS tax site yet you take the word of a $5.50 per hour guy at ATHM and some burger flipper posters from SI. <:} (just kidding)

I know the investor relations person at ATHM does not make $5.50 per hour. It appears that ATHM has not decided how to allocate the purchase of excite yet. They are probably delaying this for a good reason (save more taxes by doing it later). A certain amount of the purchase would be expected to be allocated to goodwill and thus would be deductible under section 179.
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