Accelerated depreciation

{
  "id": "MLC-T-IND-000058",
  "term": "Accelerated depreciation",
  "field": "Industrial and trades",
  "definition": "An accounting method that allows businesses to deduct a larger portion of an asset's cost in the early years of its useful life, rather than spreading the deduction evenly over time. This approach reduces taxable income sooner, providing a tax deferral benefit. Common methods include the double-declining balance method and the sum-of-the-years' digits method.",
  "synonyms": [
    "diminished value"
  ],
  "subject": "Automotive",
  "references": [
    "Frequently Asked Questions: Auto Claims (Maine Bureau of Insurance)"
  ],
  "translations": {
    "de": "beschleunigte Wertminderung",
    "es": "depreciación acelerada",
    "fr": "dépréciation accélérée"
  },
  "url": "https://mlchart.com/terminology/industrial/accelerated-depreciation/"
}