useful life

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Useful life

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

Useful Life

The amount of time, as determined by the IRS, that an asset is expected to be used. The useful life is important in determining taxes assessed on the depreciated value of the asset each year. Theoretically, an asset's useful life is equal to its absolute physical life, but, because the useful life is an estimation, this is not always the case.

useful life

(1) In accounting and taxation,the time period over which an asset is depreciated.(2) In appraisal,the time period during which one can expect a positive cash flow from a property.

References in periodicals archive ?
examines "the practices, habits, and institutions that constitute our economic lives and shape our desire" (22).
This reference work, the ninth in a series on the social and economic lives of working Americans, follows the lives of 30 families that represented the economic and political forces that helped shape the United States of America.
The set of such assets will be differentiated by both their purchase dates and their economic lives. Although an analyst might have such information in respect of the firm's major assets, we lack it.
As Jews prospered in trade and money lending, Jewish women played an increasingly vital and often autonomous part in their family's economic lives, both as merchants and as financial brokers.
In this manner, tax lawyer, Neal Myerberg, of Myerberg, Shain Associates, who consults specifically with charitable organizations, foundations and philanthropists on charitable remainder trusts, considers trusts a conservative investment ideally suited for older individuals with a low risk tolerance who are in the preservation phase of their economic lives.
The project "will have a massive effect on the spiritual and economic lives of the rural population," St.
The San Francisco-based Jhai Foundation, dedicated to improving the social and economic lives of Lao through a variety of programs, believes it can.
Keith Wrightson, Earthly Necessities: Economic Lives in Early Modern Britain.
Otherwise, we lose those values, and control over our economic lives." CONTACT: SPINS, (415)284-0546, www.spins.com.
"Americans do not rely upon access to such a procedure to conduct their social or economic lives," the National Right to Life Committee says in a friend of the court brief on the case.
239), you report on the findings of an expert panel that concluded that undergraduates should be required to take more science and math courses to help them make "technically competent decisions about their health, communities, and economic lives." As someone with multiple physics degrees, I can state from experience that very little I learned in my math and science courses is much help in making such decisions.
Other studies paint a more average picture of the financial health of gays, including one by Badgett to be published in a book tentatively titled The Economic Lives of Lesbians and Gay Men.