Depreciation Schedule

Class Life Asset Depreciation
Class Life Asset Depreciation refers to the tax guidelines that determine the period over which different types of assets can be depreciated. The IRS uses these guidelines to assign a specific 'class life' to asset categories, dictating how many years over which the depreciation can be calculated.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.