*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.
A depreciation method that provides for a higher depreciation amount in the first year of the assetâs use, followed by a gradually declining amount of depreciation. amortization. The periodic transfer of the cost of an intangible asset to expense.osts that benefit only the current period or costs incurred for normal maintenance and repairs of fixed assets. straight-line method. A method of depreciation that provides for equal periodic depreciation expense over the estimated life of a fixed asset.