tax write-off Synonyms
No Synonyms and anytonyms found
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
tax write-off Sentence Examples
- 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.
- Medical expenses may qualify as a tax write-off for certain individuals.
- Contributions to certain retirement accounts, such as 401(k)s and IRAs, can be tax write-offs.
- Educational expenses, including tuition and fees, can sometimes be deducted as a tax write-off.
- Certain business travel expenses can be claimed as tax write-offs.
- Casualty and theft losses may be deductible as tax write-offs if they exceed certain thresholds.
- 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.
