1. business expenses that can be deducted from taxable income
Usage: accounting; business
2. assets or debts that are considered uncollectable and removed from accounts
Usage: accounting; finance
3. things considered to be failures or total losses
Usage: informal

Examples

• The company claimed several business meals as writeoffs on their tax return.
• Office supplies and equipment purchases are common writeoffs for small businesses.
• The bank had to report millions in loan writeoffs this quarter.
• After the flood, most of the damaged inventory became writeoffs.
• The failed marketing campaign was a complete writeoff for the company.
• His old car was considered a writeoff after the accident.