write-off

Definitions of write-off
1

n (accounting) reduction in the book value of an asset

Synonyms:
write-down
Types:
show 4 types...
hide 4 types...
deduction, tax deduction, tax write-off
a reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer's income bracket
tax benefit, tax break
a tax deduction that is granted in order to encourage a particular type of commercial activity
business deduction
tax write-off for expenses of doing business
exemption
a deduction allowed to a taxpayer because of his status (having certain dependents or being blind or being over 65 etc.)
Type of:
depreciation, wear and tear
decrease in value of an asset due to obsolescence or use

n the act of cancelling from an account a bad debt or a worthless asset

Type of:
cancellation
the act of cancelling; calling off some arrangement

Sign up, it's free!

Whether you're a student, an educator, or a lifelong learner, Vocabulary.com can put you on the path to systematic vocabulary improvement.