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You calculate your income tax twice, once under regular tax rules and then again under AMT rules. ... Excess intangible drilling costs for oil and gas. ... For tax year 2022 (which you file in ...
Each year, high-income taxpayers must calculate and then pay the greater of an alternative minimum tax (AMT) or regular tax. [9] The alternative minimum taxable income (AMTI) is calculated by taking the taxpayer's regular income and adding on disallowed credits and deductions such as the bargain element from incentive stock options, state and local tax deduction, foreign tax credits, and ...
Congress also felt the industry was not paying its fair share of federal taxes. The oil industry's low effective income tax rates were due to the availability of two oil industry tax deductions: the percentage depletion allowance, and the provision which permits companies to expense (deduct fully in the initial year) the intangible costs of ...
In accounting, amortization is a method of obtaining the expenses incurred by an intangible asset arising from a decline in value as a result of use or the passage of time. Amortization is the acquisition cost minus the residual value of an asset, calculated in a systematic manner over an asset's useful economic life.
Halliburton (NYS: HAL) carries $2.0 billion of goodwill and other intangibles on its balance sheet. Sometimes goodwill, especially when it's excessive, can foreshadow problems down the road. Could ...
When the purchaser of an intangible asset is allowed to amortize the price of the asset as an expense for tax purposes, the value of the asset is enhanced by this tax amortization benefit. [1] Specifically, the fair market value of the asset is increased by the present value of the future tax savings derived from the tax amortization of the ...
Denbury Resources (NYS: DNR) carries $1.2 billion of goodwill and other intangibles on its balance sheet. Sometimes goodwill, especially when it's excessive, can foreshadow problems down the road.
A large operating expense is often the cost of the commodity itself (electricity, or natural gas, or water) purchased by a utility for its customers' use. V is the gross value of the utility's tangible and intangible property. D is the utility's accrued depreciation.