What is Depreciation, and How Do You Calculate It?
Many assets lose their worth with time due to wear and tear or getting outdated. This process is described as, ‘depreciation’ and is a common term used in financial statements. Ironically, the word ‘depreciation’ seems like the antonym of “appreciate” and you’ll surely love the amount of tax relief it provides!
Still confused about what exactly does depreciation indicate, and what is the best method to calculate it? Keep reading to learn all you need to know about this!