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write-off

/ˈraɪt ɔːf/  ·  say it: RY-tawf

a debt or asset officially recognized as worthless

In Banking & Finance

In more detail

1. (noun) a debt or loss that a business or person decides will not be paid back or recovered

2. (noun) a vehicle or item that is so badly damaged that it is not worth repairing

3. (verb) to decide officially that a debt will not be paid or that a loss cannot be recovered

Examples

• The bank took a write-off of $50,000 on that uncollected loan.
• After the accident, the insurance company declared the car a write-off.
• The company had to write off the damaged inventory.

How to use write-off

As a noun, write-off refers to an amount deducted from accounts or a damaged item deemed irreparable; as a verb, it means to officially record a loss or remove from assets. It is commonly used in accounting, insurance, and business contexts, often with financial or legal implications. The term can also be used more informally to describe someone or something considered a failure.

Common phrases

• tax write-off
• write off a debt
• write off a loss
• complete write-off
• declare a write-off

Synonyms

loss · bad debt · deduction · depreciation · total loss

Opposites

recovery · gain · profit

Word family

write off (verb) · written off (adjective) · writes off

A common mistake

Learners sometimes confuse the hyphenated noun form 'write-off' with the verb phrase 'write off' without a hyphen; additionally, some treat it as countable when it can be used both ways depending on context.

Nearby in Banking & Finance

deficit, venture capital, windfall, nest egg, liability, broker

Keep going

How to remember the words you read · Spaced repetition, explained