useful life

(redirected from usable life)
Also found in: Encyclopedia.

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 ?
When a synthetic thermal fluid has reached the end of its usable life, Global Heat Transfer will remove the old thermal fluid free of charge, subject to exact location, condition, volume and certification costs.
The World Economic Forum may seem dead or dying, but for us, there is still usable life left.
A number of advanced technologies and practical control measures are available for countries to improve the safety of food, thus, extending its usable life.
Wood, he says, should only be burnt at the end of its usable life.
The new hard coatings have a more uniform micro structure that has the potential to extend the usable life of the mixing chamber.
We talk to the donor about what the usable life of the building will be.
As Sullivan was developing the dash, many of the electrical systems installed on company vehicles in the mine were nearing the end of their usable life.
The holding company, Life & Specialty Ventures LLC, now contains 70% ownership of USAble Life and 100% ownership of Florida Combined Life Insurance Co.
The usable life of these disks is in the range of 3-5 years.
Some holders have specific replaceable parts--designed to improve the rigidity for the cutting tool, as well as to extend its usable life.
Currently, when a car reaches the end of its usable life, the owner can take it to a scrap merchant or dismantler, often being paid a small sum by the business which then salvages what it can from the car.
Apples displayed in a fruit bowl are attractive, but room temperatures dramatically reduce their usable life.