Useful Life
Definition
- The number of years in which business property that will depreciate in value is expected to be productive and in use for the business.
Synonyms
period of usefulness, serviceable time
Related Terms and Acronyms
- Capital Assets — Definition,
- Items that you own for investment or personal purposes, such as stocks, bonds or stamp collections. When you sell a capital asset, depending on the price you earn a capital gain or a capital loss. Gains are taxed at a special rate, and losses can be used in many cases to reduce the amount that is taxed. See also "Capital Gain" or "Capital Loss."
- Capital Investments — Definition,
- Money used to purchase permanent fixed assets for a business, such as machinery, land or buildings as opposed to day-to-day operating expenses.
- Commercial Property — Definition,
- A parcel in a district zoned for business.
- Depreciation — Definition,
- The gradual loss of value of a building or other property because of age or natural wear.
- Estate — Definition,
- The ownership interest of an individual in real property.
- The total sum of all the real property and personal property owned by an individual at time of death.
- Leveraged Property — Definition,
- A property financed with mortgage debt.
- Survival Analysis — Definition,
- A statistical analysis of how likely someone or something will survive to a set date.
- Valuation — Definition,
- The estimation of a property's price value through an appraisal.
- The process of finding the worth of an asset or business.
