write-off

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write-off

(rīt′ôf′, -ŏf′)
n. Accounting
1.
a. A cancellation of a worthless asset from a balance sheet.
b. The amount canceled or lost.
2. A downward adjustment in earnings or in the value of an asset on account of a loss or expense: a tax write-off for business expenses.

write′-off`



n.
1. a cancellation from the accounts as a loss.
2. a reduction in book value; depreciation.
3. a person or thing that is given up as hopeless or pointless.
[1745–55]
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.write-off - (accounting) reduction in the book value of an asset
accounting - a system that provides quantitative information about finances
wear and tear, depreciation - decrease in value of an asset due to obsolescence or use
deduction, tax deduction, tax write-off - a reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer's income bracket
2.write-off - the act of cancelling from an account a bad debt or a worthless asset
cancellation - the act of cancelling; calling off some arrangement
Translations

write-off

[ˈraɪtɒf] N
1. (= vehicle) → siniestro m total
his car was a complete write-offel coche fue declarado siniestro total, el coche quedó siniestro total
2. (Comm) → anulación f en libros, cancelación f en libros
3. (Fin) → cancelación f (de una deuda considerada incobrable)
he proposed a complete write-off of debtpropuso cancelar totalmente la deuda
4. (= disaster) → desastre m, fracaso m
the whole afternoon was a write-offla tarde entera fue un desastre or fracaso

write-off

[ˈraɪtˌɒf] n (Comm) → perdita (fig) (car) → rottame m
the car is a write-off → la macchina è ridotta ad un rottame
References in periodicals archive ?
The council tax write-offs on this report are four cases totalling PS6,451.30.
"Obviously our organization would be hurt if that (tax write-offs) is the only reason why people give," she said.
Jack Reed, D-R.I., and Chuck Grassley, R-Iowa, introduced bipartisan legislation Monday to rescind tax write-offs for illegal corporate behavior.
Anacortes, WA, June 10, 2016 --(PR.com)-- The CSIRI director has launched 2 new campaigns, one on GoFundMe under Andi Bowe and another that offers federally-approved tax write-offs on the YouCaring website.
Individual retirement plans, property (such as your home) used for business purposes and indirect or direct work-related expenses can qualify as tax write-offs. Set up an individual 401(k) to make contributions as a 401(k) deferral, plus a certain percentage of net income.
For decades the political rule on Capitol Hill has been that nobody messes with homeowners' tax benefits -- mortgage interest deductions, capital gains exclusions, property tax write-offs -- even if they cost the government hundreds of billions of dollars in tax revenues a year and increase the federal deficit.
He added the Government should ensure that people who brought Irish banks to the brink weren't rewarded with tax write-offs.