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Writeoff
(redirected from Writeoffs)

   Also found in: Dictionary/thesaurus, Legal, Encyclopedia, Wikipedia 0.01 sec.
Write-Off
A reduction in an individual's or a company's income as the result of an expense. For example, an unpayable credit sale may be a write-off for the creditor, especially if the debtor declares bankruptcy. The bankruptcy means that the debtor is unable to pay the debt, which results in a loss of income for the creditor. A write-off may usually be deducted from one's taxable income.

writeoff
A reduction to zero in the value of an asset carried on a firm's financial statement. Companies often hesitate to make writeoffs because profits reported to stockholders are reduced.


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uk The Austrian Financial Market Authority has said that it is expecting massive writeoffs by banks in the country.
All the cars inside were absolute writeoffs because of the fire and the building was completely gutted - it's a shell now.
That said, we have had our fair share of rain writeoffs up to now, so it would be nice if it evened out a little
 
 
 
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