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write-off

write-off

17 5.7
Removing the value of a debt or asset from accounts when it cannot be paid
  • noun
  • /ˈraɪtˌɔf/
  • Specialized
translation icon : baja contable
  • The accountant prepared a report to document the write-off of bad debts from last year.
  • debt write-off

PPP round two write offs for self-employed or businesses for PPE expenses.

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Examples

  • No, it's a total write-off.

  • You still get the tax write-off.

  • Claim your tax write offs now before the year ends.

  • So it is the perfect time to start taking write offs this month.

  • Oh, no, this is just a tax write-off.

  • Not bad for a tax write-off.

  • In most cases, tax write-offs have mitigated the loss for the company.

    Blog text (7)
  • Sorted through clutter, donated the good stuff, and got a nice write-off on taxes.

    Blog text (20)
  • That's a perfectly legitimate write-off.

  • Likewise, a $500,000 "investment" -- $200,000 in cash -- would trigger a full $500,000 write-off, and so on.

    Fiction book (1995)

Synonyms

write-down
vswrite-off
  • Specialized
4 6.4

A reduction in the value of something a company owns to show it is now worth less

removes an asset's value entirely when it is no longer collectible

How Complete

write-off
  • Specialized
17 5.7
impairment
62 6.1
write-down
  • Specialized
4 6.4
valuation account
  • Specialized
7.7

Surface Forms

write-off singular
write-offs plural

Morphology

write-off = write + off (semi-transparent) = write + off

The noun is derived from the phrasal verb 'write off' (remove as worthless); learners who know that verb will find it transparent, but knowing 'write' + 'off' separately does not guarantee understanding of the accounting sense.

Etymology

Write-off comes from bookkeeping: to write something off meant to mark it 'from the books' because it was no longer worth anything. So a write-off is when a business removes an asset or debt from its accounts as if it had no value.