Transaction costs that are considered inherently enabling must be capitalized for tax purposes, regardless of when they are incurred, even if they are before the deadline. For accounting purposes, US GAAP requires the company to account for transaction costs in the period in which they are incurred. For tax purposes, a company may be allowed to capitalize on transaction costs and amortize them over the useful life of the asset or over a specified period.
Mitch Gehm9 minutes read
Learn how to verify the licensing of a prepaid legal plan provider and why it's important for your research.