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  2. Write-off - Wikipedia

    en.wikipedia.org/wiki/Write-off

    A write-off is a reduction of the recognized value of something. In accounting, this is a recognition of the reduced or zero value of an asset. In income tax statements, this is a reduction of taxable income, as a recognition of certain expenses required to produce the income.

  3. Bad debt - Wikipedia

    en.wikipedia.org/wiki/Bad_debt

    Bad debt in accounting is considered an expense. There are two methods to account for bad debt: Direct write off method (Non-GAAP): a receivable that is not considered collectible is charged directly to the income statement. [5] Allowance method (GAAP): an estimate is made at the end of each fiscal year of the amount of bad debt.

  4. Accounts receivable - Wikipedia

    en.wikipedia.org/wiki/Accounts_receivable

    The second method is the direct write-off method. It is simpler than the allowance method in that it allows for one simple entry to reduce accounts receivable to its net realizable value. The entry would consist of debiting a bad debt expense account and crediting the respective accounts receivable in the sales ledger.

  5. I'm a Business Owner. What Expenses Can I Write Off on ... - AOL

    www.aol.com/finance/write-off-expenses-businesss...

    A tax write-off is how businesses account for expenses, losses and liabilities on their taxes. Write-offs are a specialized form of tax deduction. When a business spends money on equipment or ...

  6. How to write off repayment of a business loan - AOL

    www.aol.com/finance/write-off-repayment-business...

    Specifically, you can write the interest portion of your payments off as a business expense. Let’s say you took out a small business loan , and your monthly payments are $1,200.

  7. Deferred financing cost - Wikipedia

    en.wikipedia.org/wiki/Deferred_financing_cost

    Deferred financing costs or debt issuance costs is an accounting concept meaning costs associated with issuing debt (loans and bonds), such as various fees and commissions paid to investment banks, law firms, auditors, regulators, and so on. Since these payments do not generate future benefits, they are treated as a contra debt account.

  8. How Can I Write Off Expenses on My Business's Taxes? - AOL

    www.aol.com/news/write-off-expenses-businesss...

    A tax write-off is how businesses account for expenses, losses and liabilities on their taxes. Write-offs are a specialized form of tax deduction. When a business spends money on equipment or ...

  9. Adjusting entries - Wikipedia

    en.wikipedia.org/wiki/Adjusting_entries

    In accounting, adjusting entries are journal entries usually made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred. The revenue recognition principle is the basis of making adjusting entries that pertain to unearned and accrued revenues under accrual-basis accounting .