What does write off mean?

Looking for the meaning or definition of the word write off? Here's what it means.

Verb (accounting) To reduce an asset's book value to zero. (accounting) To record an expenditure as an expense. (accounting) To remove a portion of a debt or an amount of an account owed, counting it as a loss (as a gesture of goodwill for example). (accounting) To record a notional expense such as amortization or depreciation. Figuratively, to assign a low value to something. Find more words! 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He tries to write off both performances with his classically backhanded style. Holmes' department is making moves to better manage the land that most Australians write off as useless. And don't write off City's chances at Preston or Ipswich, scene of a Paul Evans wonder strike last season. You never can write off a team quarterbacked by Brett Favre, but you have to wonder whether Green Bay's window of opportunity is closing. The critics and the knockers were out in force to quickly write off their chances. See Also What is another word for write off? What is the opposite of write off? Sentences with the word write off Words that rhyme with write off What is the past tense of write off? Translations for write off Nearby Definitions writeoff write-ins writeing write-in write in write home about write-off writeoffs write-offs write once write one's own ticket write-only