Peyton Manning: a new, if unconventional, definition of personal goodwill

Jim Alerding (another longtime Hall of Famer from the AICPA) points out that, if you’re confused about personal goodwill, just think of the quarterback of his home team; Peyton Manning.  “I challenge any one to replace him and keep the same value,” he said.   Substitute your own home team all-star if you need to.  As defined in Yoon v Yoon, a more conventional definition is “the type of goodwill...associated with revenues being generated because of the practitioner’s skills, knowledge, and reputation.”