Domain Name Depreciation

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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 . That was true whether the domain name was a generic domain name one that doesn t refer to a specific company or product name say dogfood.c

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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Depreciation of purchased domain names - Domain Names

I spent a few grand to buy 3 names last year. NOw I m doing my corporation tax. Does anyone have experience how to treat these domain names I did some search online there are some articles to suggest to treat domain names as intangible assets like trademark. Thus the depreciation will take 15

Link: https://www.webmasterworld.com/forum25/1446.htm

Actived: Sunday Oct 12, 2003 (15 years 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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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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Internal Revenue Service memorandum

domain name is a generic domain name and the other domain name is a non-generic domain name. For both situations a non-generic domain name is usually a company or product

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

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

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How Internet Domain Names Are Taxed - The Tax Adviser

However if the domain name is associated with a fully constructed and maintained website and used in the taxpayer s trade or business the domain name will qualify as a customer-based intangible under Regs. Sec. 1.197-2 b 6 which can be amortized over 15 years.

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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CRA CCA Classes for Computers Capital Cost Allowance

It includes assets such as switches multiplexers routers hubs modems and domain name servers that are used to control transfer modulate and direct data. The half-year rule applies. Does not include office equipment such as desktop telephones cell phones fax machines copiers or property such as wires cables or structures.

Link: https://www.thebalancesmb.com/capital-cost-computers-2948646

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

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Tax Advice Over how long do you depreciate a website you

If your asking about Depreciation for Taxes Website domains are Section 197 Intangibles so they are amortized over 15 years. If your asking about Depreciation for GAAP The accounting for a recognized intangible asset is based on its useful life to the reporting entity.

Link: https://www.quora.com/Tax-Advice-Over-how-long-do-you-depreciate-a-website-youve-purchased

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

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