write-off

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Related to write-offs: Tax Write-Offs

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 ?
Cabinet member for resources Councillor Louise Miles, who is also chairman for the panel, said: "We are always very cautious around write-offs.
Coun Nick Oliver, the cabinet member for corporate services, said: "Anything that's written off is a one-off cost to the council and the total amount of write-offs has remained pretty consistent to the previous year.
Council tax accounted for another [pounds sterling]475,000 of write-offs, although this figure is well down on what it was in the previous two years - [pounds sterling]870,000 and [pounds sterling]848,000 respectively.
Among the banks, Vijaya Bank reported the steepest increase in write-offs followed by IDBI Bank.
Summary: New Delhi [India], Oct 1 (ANI): Hours after Congress president Rahul Gandhi targeted the government for waiving off debts of "crony capitalists", Finance Minister Arun Jaitley in his blog post on Monday stated that write-offs by banks are not counted as loan waivers and are done as per the Reserve Bank of India's (RBI) directive.
A downward trend for write-offs sees this year's write-off represent 1.3% of all debt.
Mark Bailey, head of CDL Vehicle Information Systems, which owns My Car Check, said: "We are checking new category write-offs almost daily now, so the fact that nine out of 10 people are unaware of them is a worry, especially when you consider that four of those who did know were motor traders.
As a result of write-offs, the amount of the state external debt Kyrgyzstan will decrease by 6.5 percent, and the ratio of the debt of the Kyrgyz government to GDP will decrease from 65.2 percent to 60.6 percent, according to the State Duma Committee on Budget and Taxes.
services--by both private health insurers and Medicaid, write-offs are
Banks and the RBI have often stated that these write-offs are just technical in nature and an exercise to clean up the balance sheets.
"It is incredible that so many people still don't realise it is legal for certain write-offs to return to the road.
States have taken varying approaches in applying the collateral source rule to Medicare write-offs. (19) Some jurisdictions apply the collateral source rule in cases where an injured party was compensated through Medicare payments and a write-off was received, thus entitling the injured party to double recovery.