There's a Depreciation Schedule for Underwear...

Ever wonder about the official depreciation schedule for your skivvies and other personal possessions?

Well, there's a guideline for that:

http://www.uphelp.org/sites/default/files/pdfs/Depreciation_CP.pdf

 

I found it quite interesting comparing there depreciation with my use of items, for instance I have one pair of issued military socks left, worn probably about once a month. But I left in 1988!!! I now buy that type of military sock and expect them to last 10 years.

Also the model trains as I was exhibiting at a model railway show yesterday, I know that if you buy a wagon and get it out of a shop, you've probably lost 30 to 50% of it's value.
On the other hand yesterday I bought 30 Mint condition wagons boxed, secondhand, for roughly £ 6 each. when I checked the value on the net I found 3 of them were worth £48, £55, £125 on a retail collectors site!!! The rest were worth between what I paid and 50% more than I paid, someone on their stand hadn't checked the value of things!!!

 

At the risk of getting political: are you familiar with the push to impute income to home owners (and tax it) simply because they aren't paying rent?

Looking at the depreciation schedule, and having similar long term use expectations from my stuff (underwear included) I joked that I had no idea my old underwear was a source of income.

 

I must admit I have no idea what you're talking about, your tax system is so different to the rest of the world....

 

Most Americans have no idea about or tax system as well.

For example: they don't know printing additional copies of our tax code causes deforestation.

 

I guess if you wanted to work out the tax on your underpants, you would eventually get to the bottom of it.

Poida