Amortization Of Intangibles
- Amortization Of Intangibles
- A tax term relating to the practice of deducting the cost of an investment in a qualifying non-tangible asset over the projected life of the asset. The cost basis of the qualifying intangible asset is amortized over a 15-year period, irrespective of the actual useful life of the asset.
In the year the asset is acquired and sold, the amount of amortization deductible for tax purposes is prorated on a monthly basis. Intangible amortization is reported on Form 4562.
Intangible assets are typically nonphysical in nature and not easily assigned a value. According to Section 197 of the Internal Revenue Code, there are numerous qualifying intangible assets, but the most common are goodwill, the value of a worker's knowledge, trademarks, trade and franchise names, noncompetitive agreements related to business acquisitions and a company's human capital.
Investment dictionary.
Academic.
2012.
Look at other dictionaries:
intangibles — Property that is a right such as a patent, copyright, trademark, etc., or one which is lacking physical existence; such as goodwill. See amortization general intangibles intangible asset … Black's law dictionary
intangibles — Property that is a right such as a patent, copyright, trademark, etc., or one which is lacking physical existence; such as goodwill. See amortization general intangibles intangible asset … Black's law dictionary
amortization — / amortazeyshsn/ In accounting, the allocation (and charge to expense) of the cost or other basis of an intangible asset over its estimated useful life. Intangible assets which have an indefinite life (e.g., goodwill) are not amortizable.… … Black's law dictionary
amortization — / amortazeyshsn/ In accounting, the allocation (and charge to expense) of the cost or other basis of an intangible asset over its estimated useful life. Intangible assets which have an indefinite life (e.g., goodwill) are not amortizable.… … Black's law dictionary
Marc J. Lane — Born August 30, 1946(1946 08 30) Nationality American Alma mater Northwestern University School of Law … Wikipedia
Selig v. United States — 740 F.2d 572 (1984) [Federal Income Taxation of Individuals: Cases, Problems, Materials. 2nd Edition. by Samuel A. Donaldson, p.278 83] , is a case decided by the United States Court of Appeals for the Seventh Circuit related to the amortization … Wikipedia
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