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.
At its core, depreciation is simple: You figure out how much the property is worth for tax purposes (the propertyâs basis), how long the IRS says you must depreciate it for (its Â­recovery period), and then you deduct a certain percentage of its basis each year during its recovery period.