*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.
Examples of intangible assets. Assets without physical substance are created daily, continually expanding the definition of an intangible asset. Any resource controlled by an entity as part of a purchase or self-creation that creates a certain economic benefit constitutes an asset. While their intangible nature may make their value somewhat subjective, it is often these assets that govern the legality of business and the control of production.