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Useful Life

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Useful Life

The number of years, as set by the IRS, that depreciable business equipment or property is expected to be in use.

Notes:

The IRS has a depreciation table for almost every item, including computers, vehicles, and other equipment.

See also: Amortization, Depreciation, Internal Revenue Service (IRS), Salvage Value

Useful life

The expected period of time during which a depreciating asset will be productive.

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Accelerated Cost Recovery System - ACRS
Accounting Rate of Return - ARR
adjusted basis

allocate
Capitalized
depreciated cost

depreciation
durable goods
Equivalent Annual Cost - EAC

Expensed
residual value
retirement

salvage value
Unadjusted Basis

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Usance Letter of Credit
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Useful Life
USIT
Usufruct
Usury
usury law
Usury laws
ut
utility

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