Hey, if you are a bit short contact me off line, always willing to help out a fellow glider pilot.
And I thought you were using term of frustration, not a term of art. I am familiar with accounting principles.

Jon


On Saturday, June 2, 2018 at 2:09:23 PM UTC-7, wrote:
A wasting asset is one with a limited life, at the end of which it has no value or utility. For most assets, their depreciable lives--i.e., the interval over which the tax authorities allow expensing the acquisition cost--bear only a tenuous relationship to the actual service lives. So a car can be depreciated over 3 to 5 years, an aircraft over 5 to 7 years, and residential property over 5, 7, 15 or 27.5 years, or whatever the current regs say.. Does anyone really think any of those assets are worthless and unserviceable at the end of their depreciable lives? Properly maintained, they can be used for many more years. But not a parachute with a 20 year life.

Hey,Jonathan, how about paying me $1,000 not to respond to your posts? That's less than $50 a year over my projected lifespan. What a deal! It's your quality of life, after all.

Chip Bearden