useful life
use·ful life n: an estimated amount of time during which an asset or facility will yield income or be useful see also depreciation 1

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

useful life
n.
For tax purposes, the period during which an asset is expected to be useful to its owner before wearing out or otherwise becoming useless.

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


useful life
The number of months or years, as determined by the IRS, that depreciable business equipment or property is expected to be in use.
Category: Business, LLCs & Corporations

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


useful life
n. An estimation of the amount of time that exhaustible property will generate income. It is used to calculate depreciation and amortization.

Webster's New World Law Dictionary. . 2000.

Look at other dictionaries:

  • useful life — noun (elec eng) The life that can be expected from a component before the chance of failure begins to increase (often figurative) • • • Main Entry: ↑use …   Useful english dictionary

  • useful life — The expected period of time during which a depreciating asset will be productive. Bloomberg Financial Dictionary * * * useful life useful life ➔ life * * * useful life UK US noun [C] (also useful economic life) ► ACCOUNTING ECONOMIC LIFE( …   Financial and business terms

  • useful life — naudingo tarnavimo laikas statusas Aprobuotas sritis buhalterinė apskaita ir finansinė atskaitomybė apibrėžtis 1. Ribotas laikotarpis, kuriuo viešojo sektoriaus subjekto veikloje naudojamas turtas gali teikti naudos. Naudingo tarnavimo laikas… …   Lithuanian dictionary (lietuvių žodynas)

  • useful life — naudingo tarnavimo laikas statusas T sritis turto vertinimas apibrėžtis 1) Laikotarpis, kuriuo verslo subjektas tikisi turtą naudoti; 2) laikotarpis, nustatomas pagal gaminių ar panašių vienetų, kuriuos verslo subjektas tikisi gauti naudodamas… …   Lithuanian dictionary (lietuvių žodynas)

  • useful life — išteklius statusas T sritis Standartizacija ir metrologija apibrėžtis Suminis objekto išdirbis nuo naudojimo pradžios arba atnaujinimo po taisymo iki kritinės būsenos. atitikmenys: angl. resource; useful life vok. Ressource, f rus. ресурс, m… …   Penkiakalbis aiškinamasis metrologijos terminų žodynas

  • Useful Life — The number of years, as set by the IRS, that depreciable business equipment or property is expected to be in use. The IRS has a depreciation table for almost every item, including computers, vehicles, and other equipment …   Investment dictionary

  • Useful life — Эксплуатационная долговечность; Срок полезного использования …   Краткий толковый словарь по полиграфии

  • (the) end of someone's useful life — the end of someone’s/something’s/useful life phrase the state of being old or damaged and no longer useful The heating system has come to the end of its useful life. Thesaurus: in a bad conditionhyponym condition of somethingsynonym Main entry:… …   Useful english dictionary

  • (the) end of something's useful life — the end of someone’s/something’s/useful life phrase the state of being old or damaged and no longer useful The heating system has come to the end of its useful life. Thesaurus: in a bad conditionhyponym condition of somethingsynonym Main entry:… …   Useful english dictionary

  • estimated useful life — The period over which an asset will be used by a particular taxpayer. Although such period cannot be longer than the estimated physical life of an asset, it could be shorter if the taxpayer does not intend to keep the asset until it wears out.… …   Black's law dictionary

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