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amortize |
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amortize [′am·ər‚tīz] (industrial engineering) To reduce gradually an obligation, such as a mortgage, by periodically paying a part of the principal as well as the interest. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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195(c) requirements are not
met, the costs are not deductible or amortizable. Taxpayers also need to recognize that IRC section
197 includes covenants as an amortizable intangible with a 15-year
useful life if purchased in connection with a business acquisition. By allowing one standard amortization deduction for an expansive
list of intangibles--so-called amortizable section 197
intangibles(3)--Congress sought to settle a heavily litigated area of
tax law. |
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