write off


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write off

1. In accounting, to consider something a loss. A noun or pronoun can be used between "write" and "off." We've been keeping these outstanding payments on the books, but we need to write them off as a loss.
2. In accounting, to record an asset as having no value. A noun or pronoun can be used between "write" and "off." That equipment can no longer be used, so we are writing it off.
3. To dismiss as insufficient, worthless, or a failure. A noun or pronoun can be used between "write" and "off." Don't write off Joe so fast. He's smarter than you think. I could tell that they wrote me off as soon as I walked on the court, but that just motivated me to play harder.
4. To disregard something due to perceiving it as unimportant or not warranting special attention. A noun or pronoun can be used between "write" and "off." At the time, I wrote off his behavior as just a product of stress from work. Obviously now I can see it was more than that. Most people wrote the comment off as a simple gaffe, but I think it had a deeper significance.
5. To send a written message, often a request. When I was a kid, I used to write off to my favorite athletes asking them for autographs. Mom is not happy with the bill, so she's writing off a letter to the company.
6. noun In accounting, the act of considering something a loss, or the item itself. As a noun, the phrase is hyphenated. All of these write-offs will significantly change our valuation.
7. noun In accounting, the act of recording an asset as having no value, or the asset itself. As a noun, the phrase is hyphenated. The car was totaled, so it ended up being a write-off.
See also: off, write

write someone or something off

 (as a something)
1. . to give up on turning someone or something into something. I had to write Jill off as a future executive. The company wrote off the electric automobile as a dependable means of transportation. He would never work out. We wrote him off.
2. . to give up on someone or something as a dead loss, waste of time, hopeless case, etc. Don't write me off as a has-been. We almost wrote off the investment as a dead loss.
3. . to take a charge against one's taxes. Can I write this off as a deduction, or is it a dead loss? Can I write off this expense as a tax deduction?
See also: off, write

write someone or something off

to drop someone or something from consideration. The manager wrote Tom off for a promotion. I wrote off that piece of swampy land as worthless. It can't be used for anything.
See also: off, write

write something off (on one's taxes)

to deduct something from one's income taxes. Can I write this off on my income taxes? I'll write off this trip on my taxes. Oh, yes! Write it off!
See also: off, write

write something off

to absorb a debt or a loss in accounting. The bill couldn't be collected, so we had to write it off. The bill was too large, and we couldn't write off the amount. We decided to sue.
See also: off, write

write off (to someone) (for something)

to send a written request for something away to someone. I wrote off to my parents for some money, but I think they are ignoring me. I wrote off for money. I need money so I wrote off to my parents.
See also: off, write

write off

1. Reduce an asset's book value to zero because it is worthless, as in The truck was wrecked completely, so we can write it off. [Late 1600s]
2. Cancel from an account as a loss, as in Since they'll never be able to pay back what they owe, let's just write off that debt. [Late 1800s] Also see charge off, def. 2.
3. Regard as a failure or worthless, as in There was nothing to do but write off the first day of our trip because of the bad weather , or She resented their tendency to write her off as a mere housewife. [Late 1800s]
4. Amortize, as in We can write off the new computer network in two years or less. Also see charge off, def. 2.
See also: off, write

write off

v.
1. To cancel something from accounts as a loss: The bank has written off the account balance as an unrecoverable debt. After efforts to collect the payment failed, we decided to write it off. We wrote the trip off as a business expense.
2. To consider something a loss or failure: We wrote off the first day of our vacation because it rained all day. The doctors wrote him off when a treatment couldn't be found for his illness.
3. To deem someone or something inconsequential and disregard them: I wouldn't write off the option of going to nursing school. Critics wrote the singer off as a novelty act.
4. To send a written request: I wrote off to the university for an application.
See also: off, write
References in periodicals archive ?
The authors' research indicates that when SFAS 142 (ASC 350-20) changed the way goodwill declined in value from amortization to impairment, some companies seized the opportunity to write off large amounts of goodwill shortly after an acquisition.
When the options eventually expire unexercised, the company must write off the "as-if" deferred tax asset against the APIC pool to the extent of net excess tax benefits.
Asahi Bank, which is to integrate management with Daiwa Bank by the end of the current fiscal year, said Tuesday it plans to write off 400 billion yen, up 300 billion yen.
The procedure of write off loans may last for two months, according to Deputy Chairman of the National Bank Oleg Smolyakov.
The banks wrote off a record total of more than 10 trillion yen in fiscal 1998, and had predicted in their midterm reports in September that they would write off slightly more than 3 trillion yen in fiscal 1999, which ended March 31 this year.
Two recent depreciation developments will affect small businesses that write off office furniture and equipment.
Why not make contributions to qualified charitable organizations and write off the donations on this year's tax returns?
The draft law on exemption of insurance payers from paying financial sanctions and penalties charged for late and (or) incomplete payment of insurance contributions proposes to write off debts of some companies.
Global Banking News-June 29, 2017--China Minsheng to write off bad debts
The Prime Minister on the request of the parliamentarians of Khyber Pakhtunkhwa gave the approval to write off loans that were outstanding on December 31, 2009.
M2 EQUITYBITES-September 17, 2010-Energen Corp to write off remaining Alabama shale leasehold in Q3(C)2010 M2 COMMUNICATIONS http://www.m2.com
To a question he said action should be taken against those who obtain loans in the name of others and then get them write off. This falls under the purview of banking fraud, he remarked.
The terms offered by Russia to write off Kyrgyzstan's debt are more beneficial than HIPC triggers, said Finance Minister Marat Sultanov during consideration of the agreement on Kyrgyz debt write-off by Russia at the session of the Parliamentary Committee on International Ties and Interparliamentary Cooperation today.
She said: "We undertook a specific house-keeping exercise to write off debt that was unlikely to be repaid.
Sumitomo Trust, which plans to write off 400 billion yen in dud loans, up from 210 billion yen, will fall into a pretax loss of 180 billion yen in a turnaround from an original projection of 20 billion yen in profit.