write-off


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Write-off

Charging an asset amount to expense or loss, such as through the use of depreciation and amortization of assets.

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.

write-off

To take an asset entirely off the books because it no longer has any value.If an accrualbasis taxpayer has taken money into income when bills were sent out to customers,but then some of the bills became uncollectible, the taxpayer may write off the uncollectible ones as a deduction against income. Financial institutions are required to write off loans when they become delinquent by a certain amount.

References in periodicals archive ?
SMASH: Write-offs can end up back on the road, using false identity plates, inset Pictures: JOHN SHENTON
Excluding the write-off of goodwill, operating income for the home furnishings segment increased from $6.
Duff & Phelps believes that the credit quality of each trust is maintained, despite the write-offs.
Despite the loss resulting largely from the Format Write-off, there were many positive aspects to fiscal 1992.
Some covenants of the working capital facility may need to be modified as a result of a quantification of the possible write-off, but based on preliminary discussions with the members of the bank group, the company believes that such modifications can be obtained.
The note write-off will be a non-recurring charge to earnings amounting to 76 cents per share for the quarter.
23, 2004, and you use this vehicle at least half the time for business, you can write-off as much as $102,000 on your 2004 return.
The discontinuation of this product line is expected to result in a write-off of excess inventories and good-will associated with this product line.
The charges include a write-off of the remaining value of the company's investment and related assets in Alps Mapping in the amount of $1.
In addition to the operating results for Hudson Highland Group, the loss included the write-off of certain deferred tax assets of $43 million that are no longer realizable to TMP as a direct result of the spin-off transaction, which occurred on March 31, 2003.
HPI is offering used car buyers a guide on how to purchase an insurance write-off that is not only safe to be on the road, but could save them 50% off the ticket price.
This was approximately 7 times the level of write-off in the same period of 2013, when 11 Million was written off by the bank.