*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.
Needed Information. To calculate the straight-line method of amortization, the total cost, residual value and useful life of the asset must be known. The asset's total cost is the sum of all costs to purchase and prepare the asset for use.o amortize intangible assets using the straight-line method, the asset's total cost less its residual value must be divided by the asset's useful life.