1 While we strive to ensure that our staff-level summaries are accurate and balanced, readers should note that they have received less scrutiny than those reviewed by the expert panel for Top Tier or Near Top Tier consideration. 1  Copyright Â© 2012-2015 Coalition for Evidence-Based Policy. 2  All rights reserved.
whether you purchased off the shelf software included within the website purchase price, if you did, it would be amortizable over 3 years. Also, if you ever abandon a website, there would be a way to remedy the need to accelerate the deduction. But, in your case, you'll probably just need to amortize it over 15 years. Just be aware there may be exceptions out there. The tax code has always been in strife with itself.
Until the IRS issues regulations on ERP software, taxpayers have relied on a 2002 IRS letter ruling, providing that: 1  The cost of purchased ERP software is amortized ratably over 36 months under Code Sec. 167(f); 2  Training and related costs under a consulting contract are deductible as current expenses;