*Withdrawals from your qualified plan are taxed as ordinary income and may be subject to a 10% Federal tax penalty if taken prior to age 59 1/2. If you left your employer in or after the year in which you turned 55, you may not be subject to the 10% early withdrawal penalty.
Intangibles with a Determinable Life. Intangible assets with a determinable life are amortized over their useful lives. Amortization is a process of allocating the expense over a number of accounting periods to reflect the actual amount of the asset consumed each period.
If the costs of the intangible assets do not meet the Intangible Asset Capitalization threshold the costs are expensed. *The shorter of the legal or the estimated useful life is used. If the life is indefinite or unlimited, as may be the case with licenses or permits, then do not amortize.