from The American Heritage® Dictionary of the English Language, 4th Edition
- n. A cancellation of an item in account books.
- n. The amount canceled or lost.
- n. Accounting A reduction or depreciation of the entered value of an item.
from Wiktionary, Creative Commons Attribution/Share-Alike License
- n. The cancellation of an item; the amount cancelled or lost
- n. Something that is now worthless (such as a car after an accident)
- v. Nonstandard spelling of write off.
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- n. (accounting) reduction in the book value of an asset
- n. the act of cancelling from an account a bad debt or a worthless asset
Sorry, no etymologies found.
And the costs of administering an ongoing plan are much higher than for a simple discharge and write-off.
Taxpayers may only deduct losses greater than their insurance reimbursements, and usually must itemize to get a write-off.
Only one tax return out of more than 1,000 she prepared over a decade benefited from the write-off, she adds.
Bank of America has consistently reported a higher write-off rate than other major U.S. card issuers.
But the write-off rate was lower than the 11.73% the preceding month.
The main good news, for those with dire losses: If a taxpayer 's write-off exceeds taxable income, he or she may be able to carry it back up to three years and claim a refund.
Bank of America, at 9.99%, had the highest write-off rate in September among its peers.
So a taxpayer who takes a current write-off and receives a later reimbursement may have to claim it as income if the amount exceeds the deduction.
Nor do you get any write-off for the first $100 of each theft or casualty loss.
Without cable and fibre telephony, India would pretty well be a forgotten write-off.
Wordnik is becoming a not-for-profit! Read our announcement here.