This post addresses issues related to amortization.
Not what you're looking for?
1) What kind of costs do not qualify for 15-year amortization?
2) How much of start-up cost and organization expense can be deducted in the first year of operation? What is the amortization period for the rest of the costs?
Purchase this Solution
Solution Summary
The solution explains the costs that do not qualify for 15-year amortization, and also discusses how much of start-up cost and organization expense can be deducted in the first year of operation and what the amortization period is for the rest of the costs.
Solution Preview
1) What kind of costs do not qualify for 15-year amortization?
According to the IRS, section 197 intangibles that were leased under a lease agreement that was entered into after 03-2004 to any tax exempt entity, foreign entity, or governmental unit cannot use 15 yr. amortization. Patents are another exclusion. Because patents have a definite life that is limited, it must be amortized over it's life and not the 15 year ...
Purchase this Solution
Free BrainMass Quizzes
Accounting: Statement of Cash flows
This quiz tests your knowledge of the components of the statements of cash flows and the methods used to determine cash flows.
Income Streams
In our ever changing world, developing secondary income streams is becoming more important. This quiz provides a brief overview of income sources.
Paradigms and Frameworks of Management Research
This quiz evaluates your understanding of the paradigm-based and epistimological frameworks of research. It is intended for advanced students.
Operations Management
This quiz tests a student's knowledge about Operations Management
Lean your Process
This quiz will help you understand the basic concepts of Lean.