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write-off
(redirected from write-offs)

   Also found in: Dictionary/thesaurus, Legal, Encyclopedia, Wikipedia 0.01 sec.
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.



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These days companies also offer immediate write-offs, Balance sheet management, Customized solutions, Solid asset management, improved cash flow, Easy upgrades.
For certain purposes these can be used to get tax write-offs too.
Comparing bad debt expense each year to write-offs during that year is one measure of the accuracy of bad debt estimates.
 
 
 
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