Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

depreciable asset

Read a random definition: enfeoff

A quick definition of depreciable asset:

A depreciable asset is something that a person or business owns that helps them make money and lasts for more than a year. Over time, the value of the asset goes down and the owner can get some money back for this loss. This is allowed by the government's tax rules.

A more thorough explanation:

A depreciable asset is a type of physical asset that is used for generating income or profit and has a useful life of more than a year. Over time, the value of the asset gradually reduces, and it is eligible for depreciation treatment under tax laws in accordance with the Internal Revenue Service rules.

For example, a company purchases a delivery truck for $50,000. The truck is expected to last for five years and will be used for delivering goods to customers. The company can claim compensation for the loss in the value of the truck over the five-year period, which is known as depreciation.

Another example is a manufacturing plant that is used for producing goods. The plant has a useful life of 20 years, and the company can claim depreciation on the plant over the 20-year period.

These examples illustrate how depreciable assets are used for generating income or profit and have a useful life of more than a year. They also show how the value of the asset gradually reduces over time, making it eligible for depreciation treatment under tax laws.

depository | depreciate

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
MrThickRopes
12:32
can i re enroll in undergrad 😭
MrThickRopes
12:32
plsssss 🥀
MrThickRopes
12:34
I’m not ready 2 grow up yet 🥀
12:40
how old r u thick rope
MrThickRopes
12:40
2 2 🥀 old af
AngryMiniCar
12:40
22 young
AngryMiniCar
12:40
I'm quarter life crisis age
MrThickRopes
12:42
I’m old 🥀
MrThickRopes
12:47
Undergrad was lit af 😭
undergrad sucked
MrThickRopes
12:49
Bull shit
as I said earlier, some of us were losers in college
MrThickRopes
12:51
So was I bruhhh it didn’t matter
MrThickRopes
12:53
Love undergrad ❤️
MrThickRopes
12:55
Ima donate to da university tell em buy yoself something nice
22 IS YOUNG WYM
MrThickRopes
12:59
Naaa
MrThickRopes
12:59
Oldddddd affffff
MrThickRopes
13:00
I’m elderly they should be giving me senior discount
if you’re elderly I must be on my deathbed
MrThickRopes
13:04
Yaaaaa
MrThickRopes
13:04
Yo anyone know how I get un suspended from yak??
MrThickRopes
13:05
I been indefinitely suspended for like 6 months 😭
yik yak is popular still???
we used to go on it when we would go to universities for model un conferences in high school LMAOOO
MrThickRopes
13:06
🥀 how to un suspend
NosyBeagle
13:09
great place to have a very toxic gay fling with another woman... or so im told
MrThickRopes
13:09
I used to play characters on yak
MrThickRopes
13:10
I’d be in the gc like “Ken sum buddy tel me Howe 2 gets vagenouse awn. mah peabous” over and over
MrThickRopes
13:10
Ts was funnnnyyyy
LSD+ is ad-free, with DMs, discounts, case briefs & more.