Username: Andrew Rating: Asked to: Apinya Kamon Date Created: 22 Nov 2017 |
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Category | 28 |
Tag | Financial |
Question | What is a 'Salvage Value'? |
Hello Andrew, Salvage value is the estimated value that the owner is paid when the item is sold at the end of its useful life. The value is used to determine annual depreciation in the accounting records, and salvage value is used to calculate depreciation expense on the tax return. The value is based on an estimate of the asset's value, or the value can be determined by a regulatory body, such as the U.S. Internal Revenue Service (IRS). |
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