This ruling modified earlier rulings and removed the implication such intangibles are, as a matter of law, indistinguishable from goodwill with no determinable useful life
. However, the taxpayer bears the burden of proving the intangible asset has an ascertainable value separate from goodwill and a limited useful life
determinable with reasonable accuracy.
The similarities between a change in MACRS classification and a change in useful life
are greater than the differences....
It claimed that the reclassification from nonresidential 31.5- and 39-year property made to conform with the ISP-recommended 15-year recovery period "did not involve a material item, is analogous to a change in useful life
, is a mere correction, and does not deviate from an established consistent method of treatment." Further, Brookshire argued that, if the depreciation schedule changes were an accounting-method change, the Service's acceptance of the 1993-1995 amended returns, and subsequent payment of the refunds, served to grant the required permission.
Indeed, the court seemed to adopt the taxpayer's position that the inspection procedures performed every three or four years merely permitted the engines to achieve their expected useful life
of 40 years, as the procedures were not in the nature of an overhaul or engine rebuild.
One simple method of calculating depreciation is by finding (or estimating) the effective useful life
of the property, subtract the amount of time the item has been in service (how long ago it was bought), and then divide the remaining useful life
by the effective useful life
The useful life
as per the generation licence of both the units is set to end in August 2018 and August 2019, respectively.
The SCR catalysts that will be replaced through the recall were found to be less durable than is required, degrading within a few years instead of controlling NOx pollution for the regulatory full useful life
of the vehicle.
Senseye, a Southampton-based producer of software for enhanced uptime in manufacturing, has launched its next generation of predictive maintenance software, allowing for the 'Remaining Useful Life
' of machines to be easily viewed
Despite the presence of material impairment adjustments in many financial statements, however, there is rarely any mention of a concurrent shortening of the impaired asset's estimated useful life
for purposes of accelerating future depreciation charges.
The secondary useful life
for electric vehicle batteries suggested in "Powerful recycling" (PEJanuary) could very well solve many energy storage problems in stationary applications, although some questions arise.