depreciable life


depreciable life
depreciable life depreciable life life

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depreciable life UK US noun [C]
ACCOUNTING, TAX the time over which an asset can be depreciated (= shown to lose value) in a company's accounts: »

Tractors have a depreciable life of seven years, according to the current tax regulations.


Financial and business terms. 2012.

Look at other dictionaries:

  • depreciable life — For an asset, the time period over which depreciable cost is to be allocated. For tax returns, depreciable life may be shorter than estimated service life See also useful life …   Black's law dictionary

  • depreciable life — For an asset, the time period over which depreciable cost is to be allocated. For tax returns, depreciable life may be shorter than estimated service life See also useful life …   Black's law dictionary

  • life — [laɪf] noun lives PLURALFORM [laɪvz] [countable] 1. the period of time during which something takes place or exists: • industrial products used during the life of a mining operation • The rate of interest is often subsidized and fixed for the… …   Financial and business terms

  • depreciable asset — Property with a useful life of at least one year that gradually loses its value over time. A business deducts the cost of a depreciable asset over a period of time. Category: Business, LLCs & Corporations → Business Accounting, Bookkeeping &… …   Law dictionary

  • Economic Life — The expected period of time during which an asset is useful to the average owner. The economic life of an asset could be different than the actual physical life of the asset. Estimating the economic life of an asset is important for businesses so …   Investment dictionary

  • service life — Period of expected usefulness of an asset; such may not necessarily coincide with depreciable life for income tax purposes …   Black's law dictionary

  • useful life — use·ful life n: an estimated amount of time during which an asset or facility will yield income or be useful see also depreciation 1 Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • Useful Life — The number of years, as set by the IRS, that depreciable business equipment or property is expected to be in use. The IRS has a depreciation table for almost every item, including computers, vehicles, and other equipment …   Investment dictionary

  • Accounting for leases in the United States — is regulated by the Financial Accounting Standards Board (FASB).Accounting for leases by the lesseeA lease is defined as a contractual agreement between a lessor and lessee that gives the lessee the right to use specific property, either owned by …   Wikipedia

  • useful — The basic quid pro quo contemplated by the Constitution and the congress for granting a patent monopoly is the benefit derived by the public from an invention with substantial utility. Specific benefit must exist in currently available form.… …   Black's law dictionary