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LSDefine

Simple English definitions for legal terms

double-declining depreciation method

Read a random definition: CAN-SPAM Act of 2003: Senate Commerce Committee Report

A quick definition of double-declining depreciation method:

The double-declining depreciation method is a way to estimate how much an asset will wear out or become obsolete over its useful life. This method is used to calculate the amount of tax deduction for depreciation. It spreads the cost of the asset over time by deducting twice the percentage recognized by the straight-line method and applying that double percentage to the remaining balance each year. This method results in larger deductions in the earlier years of an asset's life and smaller deductions in the later years.

A more thorough explanation:

The double-declining depreciation method is a formula used to estimate the wear, use, or obsolescence of an asset over its useful life. This method is useful in calculating the allowable annual tax deduction for depreciation.

For example, let's say a company purchases a machine for $10,000 with a useful life of 5 years and no salvage value. Using the double-declining depreciation method, the company would deduct 40% of the machine's value in the first year (2 times the straight-line rate of 20%), which is $4,000. In the second year, the company would deduct 40% of the remaining value, which is $2,400. The process continues until the end of the asset's useful life.

This method allows for larger deductions in the earlier years of an asset's life and smaller deductions in the later years, reflecting the asset's decreasing value over time.

double criminality | double-dipping

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JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
soyalmondoatmilk
8:38
good morning! hoping waves will come our wave today
8:42
GW wave today?
8:57
There’s someone I found on here with the username threeoutchange and if my understanding is correct that’s a reference to the debut album by a pretty cool 90s-00s Japanese band called Supercar. I geeked a little
8:57
It could just be a baseball reference I don’t get though lol
Dkk
9:00
@renard99: also, the same band that does a song in the anime Eureka 7 which I watched when I was like idk, 12
9:00
Yeah! They are pretty good. Three Out Change is an awesome J-rock record
Dkk
9:01
I will probably not listen to them more but fun fact. Really random to start the day. An omen that the waves will be very random today.
Dkk
9:03
Fuck, reading the wikipedia now. Literal last song they did before they broke up was Storywriter. Wow.
9:05
That one is a masterpiece
9:05
My favorite song by them is Recreation
glovediedthisishismom
9:05
snowing
Dkk
9:07
@renard99: man, hard to find.
Dkk
9:07
@glovediedthisishismom: Congrats on the snow.
Dkk
9:16
@renard99: Poetic and nice.
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