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English definition of “write-off”

write-off

noun [C]
 
 
/ˈraɪtɒf/
FINANCE, ACCOUNTING an amount of money that has been lost, for example, from a bad investment or a debt that will never be paid, shown as a loss in a company's accounts: asset/bad-debt/goodwill write-offs The credit card company projected that bad-debt write-offs would be $4.9 billion. charitable/tax write-offs → Compare charge-off
UK INSURANCE a vehicle that is too damaged to repair: Her car is a complete write-off.
(Definition of write-off from the Cambridge Business English Dictionary © Cambridge University Press)
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