from The American Heritage® Dictionary of the English Language, 5th Edition.
- noun A cancellation of a worthless asset from a balance sheet.
- noun The amount canceled or lost.
- noun A downward adjustment in earnings or in the value of an asset on account of a loss or expense.
from Wiktionary, Creative Commons Attribution/Share-Alike License.
- noun accounting The
cancellationof an item; the amountcancelled or lost
- noun Something that is now
worthless(such as a car after an accident)
- verb Nonstandard spelling of
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- noun (accounting) reduction in the book value of an asset
- noun the act of cancelling from an account a bad debt or a worthless asset
Sorry, no etymologies found.
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.
But the write-off rate was lower than the 11.73% the preceding month.
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.
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 has consistently reported a higher write-off rate than other major U.S. card issuers.
Taxpayers may only deduct losses greater than their insurance reimbursements, and usually must itemize to get a write-off.
And the costs of administering an ongoing plan are much higher than for a simple discharge and 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, at 9.99%, had the highest write-off rate in September among its peers.