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Intangible Assets

Beware of potential tax issues when selling self-created intangibles

Leave a Comment / (LTCG) Net Long-Term Capital Gain, Capital Losses, Federal Taxes, Intangible Assets, Ordinary Income Tax, Small Business, Small Business Tax Tips, Small Business Tips /

Many modern businesses rely on intangible assets, such as goodwill, trademarks and customer lists. But the IRS doesn’t treat all intangibles the same way. Questions about how these assets are taxed often arise when a business is sold, ownership changes hands, or intellectual property is licensed or transferred. Generally, intangibles qualify as capital assets that generate capital […]

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The tax treatment of intangible assets

Intangible Assets, Small Business, Small Business Owners, Small Business Tax Tips /

Intangible assets, such as patents, trademarks, copyrights and goodwill, play a crucial role in today’s businesses. The tax treatment of these assets can be complex, but businesses need to understand the issues involved. Here are some answers to frequently asked questions. What are intangible assets? The term “intangibles” covers many items. Determining whether an acquired

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Intangible assets: How must the costs incurred be capitalized?

Assets, Business Income Tax, Income Tax, Intangible Assets, Small Business, Tax /

These days, most businesses have some intangible assets. The tax treatment of these assets can be complex. What makes intangibles so complicated? IRS regulations require the capitalization of costs to: Acquire or create an intangible asset, Create or enhance a separate, distinct intangible asset, Create or enhance a “future benefit” identified in IRS guidance as

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