Define: Deductible

UK Accounting Glossary

Definition: Deductible


Quick Summary of Deductible


Purchases that are claimed as business expenses are described as deductible; they reduce business profits but reduce the amount of income tax owed.



What is the dictionary definition of Deductible?

Dictionary Definition


U.S., insurance Amount of expenses that must be paid out of pocket before an insurer will pay any expenses.


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Full Definition of Deductible



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Deductible FAQ's



Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/deductible/
Modern Language Association (MLA):
Deductible. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. September 16, 2019 https://payrollheaven.com/define/deductible/.
Chicago Manual of Style (CMS):
Deductible. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/deductible/ (accessed: September 16, 2019).
American Psychological Association (APA):
Deductible. PayrollHeaven.com. Retrieved September 16, 2019, from PayrollHeaven.com website: https://payrollheaven.com/define/deductible/

Definition Sources


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This glossary post was last updated: 26th December 2018.