WRITEOFF

Write-off

A write-off is a reduction of the recognized value of something. In accounting, this is a recognition of the reduced or zero value of an asset. In income tax statements, this is a reduction of taxable income, as a recognition of certain expenses required to produce the income.

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write off

Verb

  1. To reduce an asset's book value to zero
  2. To record an expenditure as an expense.
  3. To remove a portion of a debt or an amount of an account owed to you counting it as a loss (as a gesture of goodwill for example)
  4. To record a notional expense such as amortization or depreciation.
  5. Figuratively, to assign a low value to something.
    When Katya was injured, he wrote off the team's chances in the finals.


The above text is a snippet from Wiktionary: write off
and as such is available under the Creative Commons Attribution/Share-Alike License.

writeoff

Noun



The above text is a snippet from Wiktionary: writeoff
and as such is available under the Creative Commons Attribution/Share-Alike License.

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