writeoffs
Uncollectible debt entries
Writeoffs are amounts subtracted from taxable income or removed from a company's books as losses.
A business writes off bad debts, depreciated equipment, or failed investments.
In casual use, a writeoff is anything dismissed as a total loss: After the accident, the car was a complete writeoff.
Someone written off is considered beyond help or relevance: Critics had him as a writeoff, but he made a comeback.
Asset value reduction over time
- amortizationGradual debt reduction schedule
- impairmentDiminished function or capacity
- bad debtUnrecoverable money owed
- allowanceFixed periodic payment
receivables · inventory · assets · book value · goodwill · intangible · obsolescence · reserves
Conclusions from reasoning
- deductibleOut-of-pocket threshold amount
- itemizeList by particulars
- exemptionsReleases from obligation
- creditsUnits toward graduation
charitable · donations · standard deduction · adjustments · mortgage interest · tuition · medical expenses · business expenses
Unrecoverable money owed
- uncollectibleImpossible to claim payment
- defaultPreset standard option
- nonperformingFailing to yield returns
- worthlessLacking any value
abandonment · disaster · unrecoverable · forgiveness · collection · delinquent · creditors · recovery
depreciation
Asset value reduction over time
- amortizationGradual debt reduction schedule
- impairmentDiminished function or capacity
- bad debtUnrecoverable money owed
allowance · receivables · inventory · assets · book value · goodwill · intangible · obsolescence · reserves · provisions
deductions
Conclusions from reasoning
- deductibleOut-of-pocket threshold amount
- itemizeList by particulars
- exemptionsReleases from obligation
credits · charitable · donations · standard deduction · adjustments · mortgage interest · tuition · medical expenses · business expenses · home office
bad debt
Unrecoverable money owed
- uncollectibleImpossible to claim payment
- defaultPreset standard option
- nonperformingFailing to yield returns
worthless · abandonment · disaster · unrecoverable · forgiveness · collection · delinquent · creditors · recovery · settlement
- bargain goodscloseout, clearance, liquidation, markdown, discounts
writeoffswrite-ups
Formal written reports
appreciations · revaluations · mark-ups · reinstatements · capitalizations