nondeductible (Meaning)
Wordnet
nondeductible (a)
not allowable as a deduction
Synonyms & Antonyms of nondeductible
No Synonyms and anytonyms found
nondeductible Sentence Examples
- The tax code classifies certain expenses as nondeductible, meaning they cannot be subtracted from income to reduce taxable income.
- Nondeductible expenses include personal expenses, such as clothing, entertainment, and commuting costs.
- Fines and penalties are also nondeductible, as they are considered a cost of violating the law.
- Political contributions are nondeductible, to avoid influencing elections through tax benefits.
- Losses from gambling are nondeductible beyond the amount of winnings reported.
- Nondeductible expenses do not provide any tax savings, so it is important to distinguish them from deductible expenses.
- Homeowners cannot deduct personal use of their property from rental income, as it is considered a nondeductible expense.
- Interest paid on student loans may be partially nondeductible depending on income levels.
- Alimony payments made after December 31, 2018, are nondeductible for the payer and not taxable for the recipient.
- Nondeductible expenses are reported on tax returns but do not directly reduce the amount of tax owed.
FAQs About the word nondeductible
not allowable as a deduction
No synonyms found.
No antonyms found.
The tax code classifies certain expenses as nondeductible, meaning they cannot be subtracted from income to reduce taxable income.
Nondeductible expenses include personal expenses, such as clothing, entertainment, and commuting costs.
Fines and penalties are also nondeductible, as they are considered a cost of violating the law.
Political contributions are nondeductible, to avoid influencing elections through tax benefits.
