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Furniture and fixtures, equipment and leasehold improvements are stated at cost. Depreciation of furniture and fixtures and equipment is computed using the straight-line method over estimated useful lives that range from two to ten years. Leasehold improvements are amortized using the straight-line method over the shorter of their estimated useful lives or the term of the related leases.
The furniture depreciation formula is the method of calculating income tax deduction for furniture used in businesses or other income-producing activities. The two means of calculating depreciation are the general depreciation system, or GDS, and the alternative depreciation system, or ADS. Keep Learning.