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Lenhart, Mason & Associates, LLC.
900 Werner Ct, Suite 200
Casper, WY 82601
(307) 234-7800
admin@wyocpa.com

Tax Season Hours:
Monday - Friday: 7:30am - 5:30pm
Saturday: 9:00am - 1:00pm

Lenhart, Mason & Associates, LLC

1 day ago

These days, most businesses have some intangible assets such as patents, trademarks, customer lists and leases. The tax treatment of these assets is complex. IRS regulations generally require the capitalization of costs to acquire or create an intangible asset, as well as take other actions involving intangibles. Capitalized costs can’t be deducted in the year paid or incurred. If they’re deductible, they must be ratably deducted over the life of the asset (or, for some assets, over periods specified by the tax code or under regulations). However, capitalization generally isn’t required for costs not exceeding $5,000 and for certain other amounts. bit.ly/3id9Gc9 ... See MoreSee Less

These days, most businesses have some intangible assets such as patents, trademarks, customer lists and leases. The tax treatment of these assets is complex. IRS regulations generally require the capitalization of costs to acquire or create an intangible asset, as well as take other actions involving intangibles. Capitalized costs can’t be deducted in the year paid or incurred. If they’re deductible, they must be ratably deducted over the life of the asset (or, for some assets, over periods specified by the tax code or under regulations). However, capitalization generally isn’t required for costs not exceeding $5,000 and for certain other amounts. https://bit.ly/3id9Gc9

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