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


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.


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 ?
These great results are set to continue with tens of thousands more small businesses able to access the instant asset write-off thanks to the Governments increase in the small business turnover threshold to $10 million per year.
A keyword search for "goodwill impairment" on Lexis-Nexis newswires found that 214 individual companies--excluding banks and insurance companies--announced goodwill write-offs in 2002.
Leading car data provider HPI says that being aware of the different categories of insurance write-offs can save potential customers money and, in extreme cases, may even save lives.
However, counter to the way implemented by many taxpayers, the repeal of the reserve method does not require them to rely on the write-off entry recorded for financial accounting purposes; Congress intended to allow a deduction for partially worthless business bad debts in the year in which ascertained worthless, provided they are charged off by the taxpayer.
If your company buys $390,000 worth of equipment this year and takes a $100,000 write-off while the other $290,000 must be depreciated, bonus depreciation could give you an additional $145,000 deduction up-front (50% of $290,000) while the remaining $145,000 can be deducted, via depreciation, on the equipment's usual schedule.
Finnish telecomms group Elisa Corporation, parent company of Elisa Group, announced today (26 June) that it would book a EUR142m one-time write-off on the value of FMS Dravit Asset Management GmbH shares.
really kicked off the process in late March, when it took a $54 billion write-off, reflecting the erosion of value in the merger between AOL and Time Warner.
This would hinder the shady rebuilders who, knowing a car is listed as written off but repairable, readily admit its write-off status to buyers but claim they have restored the vehicle to ``as good as new'' and offer it at a bargain price.
Other revised write-off plans include 500 billion yen by the Bank of Tokyo-Mitsubishi, Mitsubishi Trust & Banking Corp.
We need to create a scheme to ensure (the outright write-off of bad loans) keeps going,'' FSA Commissioner Shoji Mori told reporters.
Francis, Hanna and Vincent [1] provide evidence that both factors (manipulation and impairment) can drive write-off decisions.