What is another word for write-offs?

133 synonyms found


[ ɹˈa͡ɪtˈɒfs], [ ɹˈa‍ɪtˈɒfs], [ ɹ_ˈaɪ_t_ˈɒ_f_s]

Write-offs refer to deductions or expenses that can be subtracted from income to decrease taxable income. There are several synonyms for write-offs, including deductions, allowances, exemptions, tax breaks, and credits. Deductions refer to expenses that are subtracted from income before taxes are calculated, whereas allowances are amounts that can be claimed to reduce taxable income. Exemptions are similar to allowances, but they are specific to certain circumstances, such as dependents. Tax breaks are incentives offered by the government to encourage certain behaviors, such as charitable donations. Finally, credits are dollar-for-dollar reductions in taxes owed, while write-offs are a reduction in taxable income. Knowing these synonyms for write-offs can be helpful for tax planning and understanding financial jargon.

Related words: write off, write-offs, write down, write up, write up account

Related questions:

  • What is a write-off?
  • What does write off mean?
  • What does write off mean in accounting?
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  • Is a write-off the same as depreciation?

    Synonyms for Write-offs:

    How to use "Write-offs" in context?

    A write-off is when an organization does not have the financial resources to repay an outstanding debt or expense. This usually happens when the debt is considered too risky or difficult to collect. When a write-off is taken, the money is transferred from the account of the debt or expense to an account labeled "write-off.

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