Noun. 1. specific heat-the heat required to raise the temperature of one gram of a substance one degree centigrade. heat, heat energy-a form of energy that is transferred by a difference in temperature. 1  Facebook.
You begin to depreciate your property when you place it in service for use in your trade or business or for the production of income. You stop depreciating property either when you have fully recovered your cost or other basis or when you retire it from service, whichever happens first.
Depreciation is computed at the end of an accounting period (usually a year), using a method best suited to the particular asset. When applied to intangible assets, the preferred term is amortization. 2. Commerce: The decline in the market value of an asset.