GREY:NEVDQ - Post by User
Post by
patchhon Jan 02, 2022 2:33pm
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Post# 34277487
Impared Assetts - IRS
Impared Assetts - IRSGiv Ur Selfies a Break !
What assets should be impaired?
Assets most likely to become impaired include accounts receivable and long-term assets. A loss due to an asset impairment is recorded on both the balance sheet and the income statement. Asset impairment occurs when the net carrying amount, or book value, cannot be recovered by the owner Are asset impairments tax deductible?
In general, tax authorities attempt to tax company income as close to its cash base as possible, rather that its accrual base. This means tax authorities do not allow impairment as a deductible expense to taxable income because impairment expense is not connected to a sale or purchase in the accounting period. Can intangible assets be written off?
Amortization of intangible assets is a process by which the cost of such an asset is incrementally expensed or written off over time. Amortization applies to intangible (non-physical) assets, while depreciation applies to tangible (physical) assets.
197, I.R.C., requires that a covenant not to compete entered into in connection with a direct or indirect acquisition of an interest in a trade or business be amortized over 15 years.
thats where U Wt jan Stoks went
June 2021 - rule change When can you write off intangible assets?
Businesses can deduct the cost of these assets as expenses over several years using a process called amortization. Many intangibles are amortized under Section 197 of the Internal Revenue Code, which requires a 15-year amortization period.Jun 22, 2021
i am a long term shareholder... i want basik protections of my assets..
we hav been scammed and i want revenge..
that mine has declared the entire 870M$ as Impared....
2024...
the mine also ows their streamer 19,000 tons of ore.. we will not see a dime from that sugar cube
page 10 - NCI Bad Debited the Jan Wts.. read the dammned IFS