depreciation
de·pre·ci·a·tion /di-ˌprē-shē-'ā-shən/ n
1: any decrease in the value of property (as machinery) for the purpose of taxation that cannot be offset by current repairs and is carried on company books as a yearly charge amortizing the original cost over the useful life of the property
accelerated depreciation: the depreciation of property that was put into use prior to 1980 which is allowed at a faster rate than normal under the depreciation rules in force before the adoption of the Accelerated Cost Recovery System
straight–line depreciation: depreciation of an asset by a fixed percentage of its original cost based on its estimated life
2: a loss in the value of property due to physical deterioration and wear or to obsolescence and lack of adaptability

Merriam-Webster’s Dictionary of Law. . 1996.


depreciation
A proportion of the value of capital assets is deducted on an annual basis to reflect, in theory, the rate at which their value diminishes over their useful life. The amount is then applied as a charge to the profit and loss account.

Easyform Glossary of Law Terms. — UK law terms.


depreciation
n.
The process of spreading the cost of an asset over a period of years, deducting an allowance for wear and tear as the asset is used up or worn out.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


depreciation
the accounting practice whereby the cost of a fixed asset is written off over the period of its expected useful life. The amount written off is a recognised deduction in computing the profits of a business, and the object of the exercise is that such amounts will provide a fund to finance the asset's replacement when the time comes. Statutory recognition of this practice is given in the Capital Allowances Act 1991, which permits the cost of most capital assets acquired by a business to be written off (straight-line depreciation) for income tax and corporation tax purposes over a period of 20 years.

Collins dictionary of law. . 2001.


depreciation
The actual or theoretical gradual loss of value of an asset (particularly business equipment or buildings) through increasing age, natural wear and tear, or deterioration, even though the item may retain or even increase its replacement value due to inflation. Depreciation may be used as a business deduction for income tax reduction, spread out over the expected useful life of the asset (straight line) or at a higher rate in the early years of use (accelerated).
Category: Business, LLCs & Corporations → Business Accounting, Bookkeeping & Finances
Category: Business Cash Flow Problems & Bankruptcy
Category: Business, LLCs & Corporations → Business Tax & Deductions
Category: Personal Finance & Retirement → Taxes → Tax Audits
Category: Real Estate & Rental Property

Nolo’s Plain-English Law Dictionary. . 2009.

depreciation
An accounting concept which is the measure of the wearing out, consumption or other reduction in the useful economic life of a fixed asset (fixed assets), whether arising from use, effluxion of time or obsolescence through technological or market changes. The useful economic life is the life over which the owner of an asset will derive economic benefits from its use.
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USA
An annual deduction that allows a taxpayer to recover its basis in certain business or investment property over a specified number of years. Generally, a taxpayer can depreciate tangible property such as buildings, machinery, vehicles, furniture, and equipment; and intangible property such as patents, copyrights, and computer software. However, a taxpayer cannot depreciate land.
See also

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.


depreciation
n. A decline in the value of an asset over time, due to its increasing obsolescence or the wear and tear due to its use; a deduction on an income tax return of part of the asset's cost, transforming its declining value into a benefit for the taxpayer.

Webster's New World Law Dictionary. . 2000.


depreciation
The gradual decline in the financial value of property used to produce income due to its increasing age and eventual obsolescence, which is measured by a formula that takes into account these factors in addition to the cost of the property and its estimated useful life.

Dictionary from West's Encyclopedia of American Law. 2005.


depreciation
The gradual decline in the financial value of property used to produce income due to its increasing age and eventual obsolescence, which is measured by a formula that takes into account these factors in addition to the cost of the property and its estimated useful life.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

depreciation
n.
   the actual or theoretical gradual loss of value of an asset (particularly business equipment or buildings) through increasing age, natural wear and tear, or deterioration, even though the item may retain or even increase its replacement value due to inflation. Depreciation may be used as a business deduction for income tax reduction, spread out over the expected useful life of the asset (straight line) or at a higher rate in the early years of use (accelerated).

Law dictionary. . 2013.

Synonyms:

Look at other dictionaries:

  • dépréciation — [ depresjasjɔ̃ ] n. f. • 1771; de déprécier ♦ Action de déprécier, de se déprécier; état de ce qui est déprécié. Dépréciation des marchandises, de l or, de l argent. ⇒ avilissement, baisse, décote, dévalorisation. L inflation entraîne la… …   Encyclopédie Universelle

  • Depreciation — Dépréciation En économie, une dépréciation est une perte de valeur d un bien, ou plus généralement d une monnaie. En comptabilité générale, une dépréciation est la constatation comptable d une moins value probable sur un élément d actif. Sommaire …   Wikipédia en Français

  • Depreciation — De*pre ci*a tion (d[ e]*pr[=e] sh[i^]*[=a] sh[u^]n), n. [Cf. F. d[ e]pr[ e]ciation.] 1. The act of lessening, or seeking to lessen, price, value, or reputation. [1913 Webster] 2. The falling of value; reduction of worth. Burke. [1913 Webster] 3.… …   The Collaborative International Dictionary of English

  • DEPRECIATION — Снижение стоимости обесценивание валюты, вызванное действием рыночных механизмов и не связанное с действиями государственных организаций Словарь бизнес терминов. Академик.ру. 2001 …   Словарь бизнес-терминов

  • depreciation — 1767, a lowering of value (originally of currency), noun of action from DEPRECIATE (Cf. depreciate). Meaning loss of value of a durable good by age or wear is from 1900 …   Etymology dictionary

  • depreciation — [n] devaluation accounting allowance, deflation, fall, loss of value, reduction, slump; concepts 137,236,240,247 …   New thesaurus

  • depreciation — [dē prē΄shē ā′shən, diprē΄shē ā′shən] n. [see DEPRECIATE ] ☆ 1. a) a decrease in value of property through wear, deterioration, or obsolescence b) the allowance made for this in bookkeeping, accounting, etc. ☆ 2. a decrease in the purchasing… …   English World dictionary

  • Depreciation — Not to be confused with Deprecation. Depreciation refers to two very different but related concepts: the decrease in value of assets (fair value depreciation), and the allocation of the cost of assets to periods in which the assets are used… …   Wikipedia

  • depreciation — /dapriyshiyeyshsn/ In accounting, spreading out the cost of a capital asset over its estimated useful life. Depreciation expense reduces the taxable income of an entity but does not reduce the cash. A decline in value of property caused by wear… …   Black's law dictionary

  • depreciation — /dapriyshiyeyshsn/ In accounting, spreading out the cost of a capital asset over its estimated useful life. Depreciation expense reduces the taxable income of an entity but does not reduce the cash. A decline in value of property caused by wear… …   Black's law dictionary

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