Chimin Sang

Gannett Is Undervalued

I don't think you get the accounting right. A company DOES NOT gain tax benefit by writing down goodwill.

If there were such a rule, all companies would like to exercise their 'right judgement' to write down goodwill to gain tax benefit. This would be a wrong incentive IRS send out to the companies. Of course, I know the rule by fact. I am giving you a scenario to show the absurdness of such a rule.