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JMO but the cost of initially incurring the license (legal fees and so forth) would be 15 year. Would not the cost of the license itself be Sec 167 and amortized over the life of the intangible? The license itself has a set life expectancy. For example I wouldn't amortize my every three year EA license fee for 15 years with a lump sum in year 3.

section 197 intangible when you buy. I'd say it is amortized over the life of the license.

Depends upon how badly you want to keep the client.

The bottom half could be a voter registration card, with instructions.

The bottom half could be a coupon for 10% off for referring a new client. Or a free pizza.

"Informed Voter" has become an oxymoron.

You and should title the truck in the LLCs name, but it won't be a sale because you can't sell to yourself. Vehicle mileage depreciation: https://www.irs.gov/publications/p463#en_US_2017_publink1000298667 By the way, ATX calculates this correctly as depreciation. Yes, you can pick and choose mileage vs. actual by vehicles, but you can't use mileage for 5 or more vehicles.

Very few things are amortized over their useful life. 197 intangibles is 15 years regardless, but you would have a balloon amount of amortization in the final year when it becomes worthless.

https://www.irs.gov/businesses/small-businesses-self-employed/fishing-tax-center The term “section 197 intangible” is defined to include “any license, permit, or other right granted by a governmental unit or any agency or instrumentality thereof.” Thus, for example, the capitalized cost of acquiring from any person a liquor license, a regulated airline route, or a television or radio broadcasting license is to be amortized over a 15-year period. Consequently, the definition of an amortizable intangible can be interpreted to include a limited entry fishing permit.

Not really, you just have an asset whose usage is changing from personal to business.

See section 8 https://www.law.cornell.edu/cfr/text/26/1.197-2 Amortize under Sec 197.

Microsoft:

Instructions on who to vote for?

Puerto Rico residents file a 1040-SS, in English, or 1040-PR, in Spanish only to report SE taxes. There is no US income tax. However, Puerto Rico has its own form and the taxes are comparatively higher than US states, due to the fact that little US revenue goes to PR. A prepare has to be certified by Hacienda (Treasury) to prepare PR taxes. BTW, the same 1040-SS is used in the various territories, as well.

Perhaps we can print it on toilet paper, and we all know what to do with that.....

No, if you are sure that it isn't already included in the amounts in other boxes, then add another K-1 input form with the partnership's name followed by "sec 754 amort" or something similarly descriptive, and the partnership's EIN. The amount is reported as the same type of income that it offsets. Example: If the K-1 was for rental income, then enter the 754 amortization as a negative on that same input line.

They also make great hangman words. I have a 3 letter hangman word that no one has ever gotten.