Was wondering if there is an industry standard in the transportation industry of useful life of a tractor trailer. I was looking for the Useful life of Book Depreciation if that helps Thanks in Advance
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Useful life for long haul trucking companies
Jan 17, 2007
5 Replies
I believe there is. I just don't recall the proper asset class offhand.
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-----> real address on hobokeni or hobokenx
See IRS Pub 946.
I seem to recall the cab itselk is 3 years. Like race horses :^)
-- Art Kamlet ArtKamlet @ AOL.com Columbus OH K2PZH
Right. And since it is three years, that's generally too short a time for effective tax strategy. I find using at least 5 years for clients a better choice to spread out deductions, and even 7 years at times. ChEAr$, Harlan Lunsford, EA n LA
Free data seems to be hard to come by. One resource I've found online (free) is from the State of South Dakota setting out the useful lives to be used by counties and municipalities when depreciating their assets. The useful lives for trucks listed by South Dakota are:
Tractor, crawler 15 Tractors 10 Trailer, tilt top 20 Trailer, large semi 20 Truck, dump 10 Truck, light/medium 5 Truck, tandum 10
The document itself is at:
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Otherwise, you might check the accounting section of your local library, they may have some reference materials on useful lives, including industry standards.
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