Write Off - Law Dictionary Search Results
Home Dictionary Name: write offtax write-off
tax write-off : a tax deduction of an amount of depreciation, expense, or loss [cancelled the debt and took a tax write-off on the loss] ...
write-off
write-off 1 : the elimination of an asset or amount due from the books 2 : tax write-off ...
write-off
write-off 1 : the elimination of an asset or amount due from the books 2 : tax write-off ...
allowance for bad debts
allowance for bad debts Your best guess at how much of your accounts receivable will not be collectable. In other words, your best guess at how much of your accounts receivable will be "bad debts." An "allowance for bad debts" account is kind of like a savings account for bad debts. Your company puts money into it on a periodic basis (usually monthly) as an expense of the company. When you decide that a particular account is not collectable, you tap the allowance for bad debts account to pay for the bad debt. Because you already made the allowance for bad debts, your profit and loss statement will not be out of whack in the particular month that you decide to "write-off" a particular account. Your company's accounting entries to "write off" a $500 account that you have decided is not collectable would look something like this: a debit to your allowance for bad debts account in the amount of $500 and a credit to your accounts receivable account for $500. ...
expense
expense : financial burden or outlay ;specif : an item of business outlay chargeable against revenue for a specific period busi·ness expense : an expense made in furtherance of one's business esp. as part of the cost of operating a business in the taxable year in which the expense is incurred compare capital expense and personal expense in this entry NOTE: Business expenses are generally tax deductible in the year the expense is incurred. capital expense : an expense made in a business that will provide a long-term benefit : capital expenditure NOTE: Capital expenses are not tax deductible as business expenses but may be used for depreciation or amortization. mov·ing expense : an expense incurred in changing one's residence that is tax deductible if incurred for business reasons (as when one's job requires relocation) or·di·nary and nec·es·sary expense : an expense that is normal or customary and helpful and appropriate for the operation of a ...
amortization
amortization The gradual payment of a debt through a schedule of payments or the writing off of an intangible asset against expenses over the period of its useful life ...
Plaint
Plaint [fr. plainte, Fr.; querela, Lat.], the statement in writing of a cause of action. It is the first process in an inferior court in the nature of an original writ, because there is briefly set forth the plaintiff's cause of action: and the judge is bound, of common right, to administer justice therein without a special mandate from the Crown.Plaint, includes a written statement pleading, a set off or counter-claim. [The Gujarat Court-fees Act, 2004, s. 2(c)]Means the statement in writing of a cause of action in which the relief claimed is sketched in detail. Plaintiff is the person presenting a plaint to get a relief from the court; a person who commences an action another, called a defendant, STC of India v. Ironside Ltd., AIR 1966 Bom 126 (DB)....
Obliterate
Obliterate, means (1) To wipe out, rub off, or erase (a writing or other markings)(2) To remove from existence; to destroy all traces of obliteration, Black's Law Dictionary, 7th Edn., p. 1104...
Plagiarist
One who plagiarizes or purloins the words writings or ideas of another and passes them off as his own a literary thief a plagiary...
Fragment
A part broken off a small detached portion an imperfect part as a fragment of an ancient writing...
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