Definitions for "Write-Off"
a decrease in the reported value of an asset or a company to zero.
To charge an asset amount to expense or loss, in order to reduce the value of that asset and one's earnings.
In common usage: a reduction in taxable income that results when allowable deductions are subtracted from gross income.
Write-off is a procedure for the deletion of debts from the Public Accounts. Write-off does not include forgiveness (i.e. the debt is still owing to the Government).
Unfulfilled pledge removed from an organization's accounting records.
Any credit of $10 or more being posted to an IRA where the branch or FA has decided to cover a charge or debit that appears in the account. Fees charged by a prior Custodian when the account transferred leaving the account in a debit would be an example of a debit. The IRS requires that all credits being posted to an IRA be deposited as a contribution.
A damaged vehicle which is not repairable, or one which would cost more to repair than the car was worth before the damage occurred. Also known as a "total loss".
An aircraft which has been so severely damaged as to make repair uneconomical
is to decrease the value of an item, e.g., a tax write-off decreases tax liability, a vehicle involved in an accident can be declared a write-off if the cost to repair is in excess of the value of the vehicle.
a very competitive business, but when claims out step premiums by such a large margin even the largest and strongest underwriters pull in their horses
a decrease in revenues when payment for a receivable cannot be collected