Domain Name Amortization Life

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Should I Depreciate or Amortize a Domain Name Bizfluent

Even if a business has a domain name that is an intangible asset that doesn t mean it has to amortize the domain name. If the business expects the usefulness of the domain name to end at a certain time it should amortize the domain name over its useful life.

Link: https://bizfluent.com/info-8526255-should-depreciate-amortize-domain-name.html

Actived: Monday Jul 15, 2019 (5 days ago)

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Acquired Domain Name Costs Are Amortized Over 15 Year Life

The IRS National Office determined that the proper life for amortization of an acquired domain name is 15 years in Chief Counsel Advice 201543014.

Link: https://www.currentfederaltaxdevelopments.com/blog/2015/11/3/acquired-domain-name-costs-are-amortized-over-15-year-life-per-chief-counsel-advice

Actived: Friday Jul 12, 2019 (7 days ago)

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How Internet Domain Names Are Taxed - The Tax Adviser

The second issue is whether the cost incurred by a taxpayer to acquire a nongeneric domain name from a secondary market and used in the taxpayer s trade or business qualifies for amortization under Sec. 197 or if the domain name has an indefinite life for which the cost cannot be amortized. The IRS has concluded that the cost incurred to acquire a nongeneric domain name used in the taxpayer

Link: https://www.thetaxadviser.com/newsletters/2016/may/how-internet-domain-names-are-taxed.html

Actived: Thursday May 5, 2016 (3 years ago)

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GAAP Accounting for High Value Domains - NamePros

The co did not get the domain for free after making the stipulated no. of lease payments under some agreement amounts paid to acquire the ownership of the domain name has been written off as expense in prior years .

Link: https://www.namepros.com/threads/gaap-accounting-for-high-value-domains.553357/

Actived: Thursday Jul 11, 2019 (8 days ago)

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Acquisition Cost of Internet Domain Names Must Generally

Acquisition Cost of Internet Domain Names Must Generally be Capitalized and Amortized. Parker Tax Publishing November 18 2015 The cost of purchasing an Internet domain name is not a currently deductible business expense but instead is generally capitalizable under Code Sec. 263 and amortizable under Code Sec. 197.

Link: http://www.parkertaxpublishing.com/public/tax-domain-names-capitalized-amortized.html

Actived: Sunday Jul 14, 2019 (5 days ago)

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Internal Revenue Service memorandum

POSTN-119841-15 4 Capitalization is required regardless of whether the acquired domain name is a generic or non-generic domain name. Issue 2 Section 197 a provides that a taxpayer shall be entitled to an amortization

Link: https://www.irs.gov/pub/irs-wd/201543014.pdf

Actived: Wednesday Jul 10, 2019 (9 days ago)

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IRS provides guidance on treatment of costs to acquire

The IRS recently released CCA 201543014 the CCA concluding that costs incurred by a taxpayer to acquire certain internet domain names from a secondary market for use in the taxpayer s trade or business must be capitalized under section 263 a and amortized over a 15-year period under section 197.

Link: https://rsmus.com/what-we-do/services/tax/tax-alerts/irs-provides-guidance-on-treatment-of-costs-to-acquire-domain-na.html

Actived: Monday Jul 15, 2019 (4 days ago)

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U.S. GAAP Codification of Accounting Standards Guide by

Internet domain name costs-- capitalized Development stage costs-- apply the rules of AICPA SOP 98-1 Operating stage costs-- apply the rules of AICPA SOP 98-1 Rules of AICPA SOP 98-1 Three stages to develop software 1. Preliminary project stage 2. Application development stage 3. Post-implementation operation stage Preliminary project stage-- Costs are expensed as incurred Application

Link: https://accountinginfo.com/financial-accounting-standards/asc-300/350-50-website-costs.htm

Actived: Sunday Jul 14, 2019 (5 days ago)

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Amortization of Certain Intangible Assets

The useful life for amortization would be the best estimate of the period over which the benefits will continue. As this circumstance is atypical most should read on to determine whether to amortize the asset.

Link: https://www.journalofaccountancy.com/issues/2004/dec/amortizationofcertainintangibleassets.html

Actived: Tuesday Nov 30, 2004 (14 years ago)

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