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 extension of the instant asset write-off is just one part of the Governments plan to boost the economy and help small businesses invest and grow.
The Supreme Court of Delaware applied the collateral source rule to a provider write-off the same way as it would a third party payment by relying on the Restatement (Second) of Torts [section] 920A.
Shortly after the adoption of SFAS 142 (ASC 350-20), some goodwill impairments were very large and very frequent for companies that released earnings or issued press releases about asset write-offs. A noteworthy impairment occurred in 2002, when AOL reduced goodwill by a stunning $54 billion in connection with its 2001 merger with Time Warner.
Technique 2: Compare beginning allowance for doubtful accounts (BADA) to write-offs (WO).
Last year the database held information on 650,000 write-offs.
1.166-3(a)(2)(i) may be effected by acts other than the write-off entry, including identifying an allowance as pertaining to identifiable partially worthless business debts.
After decades of financial management and accounting weaknesses, information related to aged disbursement and collection activity was so inadequate that DOD was unable to determine the true value of the write-offs. While DOD records show that an absolute value of $35 billion or a net value of $629 million of suspense amounts and check payment differences were written off, the reported amounts are not reliable.
As VPMA, I would consider a write-off if, after reviewing the situation, I am in agreement that the care delivered was inadequate, negligent or if there are circumstances that would put the institution in a bad light.
"You can take an immediate 50% write-off of new property placed in service after May 5 of this year."
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.
The Nihon Keizai Shimbun reported Sunday that Misawa Homes aims to issue some 35 billion yen in preferred stock in March to replenish its capital, as the write-off of 120 billion yen in such latent losses will deplete the company's shareholders' equity.
''We need to create a scheme to ensure (the outright write-off of bad loans) keeps going,'' FSA Commissioner Shoji Mori told reporters.