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Simple English definitions for legal terms

double-declining depreciation method

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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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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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