write off
The term "write off" is used in accounting to signify the removal of an asset or debt from financial records and in everyday language to mean dismissing something as a loss.
Definition
C1Accounting
(technical, financial)To remove an asset or debt from financial records because it is considered uncollectible or worthless.
Example
- The company decided to write off the bad debt after several unsuccessful attempts to collect it.
- Due to extensive damage, the equipment was written off in the financial statements.
C1Taxation
(technical, financial)To deduct an expense from taxable income.
Example
- Businesses can write off certain expenses, like office supplies, to reduce their taxable income.
B2General Usage
(informal, idiom)To accept that a loss or debt cannot be recovered.
Example
- After several failed attempts to fix the car, they decided to write it off.
B2Idiomatic Expression
(informal, idiom)To dismiss something or someone as unimportant or not worth considering.
Example
- Many people wrote him off after his initial failure, but he proved them wrong by succeeding later.
Similar
Terms that have similar or relatively close meanings to "write off":
charge offcross offride offpass offwipe offblow offwork offwear offfob offburn offpay offcheck offcall offshrug offwipe outrack offbrush offread offsign offwire offcross outmark offwalk offbuy offleave offmake offwave off