Useful Life Law and Legal Definition
Useful Life is the expected period of time, in years, during which a depreciating asset will be productive. It is 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.
Legal Definition list
Related Legal Terms
- Abuse in Later Life Program [Department of Justice]
- Accelerated Life Insurance Benefits
- Adjustable Life Insurance
- Adolescent Family Life Act
- Advanced Life Support [ALS]
- Advanced Life Underwriting
- Aggregate Lifetime Limit
- American Folklife [Education]
- Association of Fish and Wildlife Agencies
- Authorized Representative [Wildlife and Fisheries]
