*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.
The fact is that most of a companyâs assets, whether tangible or intangible, lose value over time. Those losses are quantifiable, which can have an impact on your business' accounting practices. When discussing an intangible asset, the process of quantifying gradual losses in value is called amortization.mortization Versus Depreciation. While amortization and depreciation are similar, they differ in application. Amortization is used for intangible assets, such as patents on inventions, licenses, trademarks, and goodwill in the marketplace. Depreciation applies to tangible assets that have salvage value.