1. something regarded as a total loss or failure
2. a reduction in the recorded value of an asset, especially for tax purposes
Usage: business; accounting

Examples

• After the accident, the car was a complete writeoff.
• The failed project became a million-dollar writeoff for the company.
• His first year in college was a writeoff due to poor grades.
• The business claimed the damaged equipment as a tax writeoff.
• She considered the expensive dinner a writeoff since the client didn’t sign.
• The accountant recommended several writeoffs to reduce their tax burden.