In accounting, the reduction in value of an asset before one accounts of taxes owed. Pretax writedowns may reduce one's tax liability. See also: Depreciation.
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An accounting reduction in the value of an asset, measured before any effect by income taxes.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.