Depreciable Property
Categories: Real Estate, Accounting
Long-term business assets whose values can be depreciated, as determined by the IRS.
This means they can be treated as business expenses at tax time. Depreciable property can include buildings, vehicles, computers, heavy equipment, etc.
Like that grist mill you bought for grinding down all of your company's, um...grist...is no longer worth the $10M you paid for it eight years ago. #TrueGrist
See: Depreciation for the nitty-gritty on how an asset declines in value over time, and how it might affect your pocketbook/bank account.