Practice buy in / ASC buy in tax deductible

[Guest]

Is practice buy in or ASC buy in tax deductible?

[jfoxcpacfp]

wci wrote:

Is practice buy in or ASC buy in tax deductible?

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No. You are paying for a piece of the business. It is an investment. Some of the associated costs may be deductible, however (i.e. professional advice).

[WealthyDoc]

I agree with Johanna.  I also don't know of a way to shelter the income generated from the investment.  I pay taxes on income generated by ASC (K-1).