Asset retirement: Point at which asset is no longer useful and is disposed of

  • Asset cost and accumulated depreciation for the asset are removed from the books
  • Gain or loss on disposition whether sold or scrapped will likely to go under extraordinary income


Write Off Apps

App for Entrepreneurs to Learn Tax Savings, Structure Right, & Grow Their Business with an Easy Game. A player chooses a character and plays each round against an opponent answering questions and learning on how to structure a business right, pay less tax, and more along the way. It is a fun and interactive way to learn all you need fast!

Free Cheat Sheet

Free Cheat Sheet

Subscribe for your free Cheat Sheet and to start your Know Your Numbers Journey

« Back to Glossary Index