tax write-off (Meaning)

Wordnet

tax write-off (n)

a reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer's income bracket

Synonyms & Antonyms of tax write-off

No Synonyms and anytonyms found

tax write-off Sentence Examples

  1. Business expenses can be deducted as tax write-offs to reduce taxable income.
  2. Charitable donations are a common type of tax write-off for individuals.
  3. Depreciation on business assets can be claimed as a tax write-off over time.
  4. Home mortgage interest and property taxes can be significant tax write-offs for homeowners.
  5. Medical expenses may qualify as a tax write-off for certain individuals.
  6. Contributions to certain retirement accounts, such as 401(k)s and IRAs, can be tax write-offs.
  7. Educational expenses, including tuition and fees, can sometimes be deducted as a tax write-off.
  8. Certain business travel expenses can be claimed as tax write-offs.
  9. Casualty and theft losses may be deductible as tax write-offs if they exceed certain thresholds.
  10. Tax write-offs can have a significant impact on reducing tax liability and increasing disposable income.

FAQs About the word tax write-off

a reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer's income bracket

No synonyms found.

No antonyms found.

Business expenses can be deducted as tax write-offs to reduce taxable income.

Charitable donations are a common type of tax write-off for individuals.

Depreciation on business assets can be claimed as a tax write-off over time.

Home mortgage interest and property taxes can be significant tax write-offs for homeowners.