Definition

A reduction in the value of an asset or a debt that is no longer considered collectible.

Example

The company decided to record a writeoff for the unpaid invoices.

Conversation

Did you hear about the new tax writeoff they introduced this year?

Yeah, I read something about it — it sounds really helpful.

I could definitely use a good writeoff for my expenses.

Same here! I hope it simplifies the process for everyone.

Synonyms & Antonyms

Root Explanation

Writeoff → It is formed from "write" (from Old English "writan", meaning to inscribe or mark) and "off" (meaning away or to remove). The word "writeoff" refers to the act of removing an asset or debt from the books, essentially marking it as no longer valuable or collectible.

Memory Tip

Think of the act of 'inscribing' something ('write') and then 'removing' it ('off') from consideration, which helps you remember that a writeoff means to eliminate a debt or asset from financial records.

Visually Confused Words