Dependent

Business, Legal & Accounting Glossary

Definition: Dependent



What is the dictionary definition of Dependent?

Dictionary Definition


  1. n. a person receiving support from another person (such as a parent), which may qualify the party supporting the dependent for an exemption to reduce his/her income taxes.
  2. adj. requiring an event to occur, as the fulfilment of a contract is dependent on the expert being available.

Full Definition of Dependent


The term dependent generally describes a person who is financially sustained by someone else. Most commonly, the word dependent applies to children who are supported by their parents. A dependent may also rely upon financial help derived from grandparents, older siblings, or legal guardians. One spouse that is financially born by the other is likewise considered a dependent. Dependent is a term that may also extend to persons over the age of sixty-five, implying the incapacity to be financially self-reliant due to old age. Having a dependent qualifies a taxpayer for certain tax breaks. This means that for each dependent a person can claim dependency exemptions. Having a dependent may also provide certain financial latitude in healthcare insurance and education.


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/dependent/
Modern Language Association (MLA):
Dependent. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. July 16, 2020 https://payrollheaven.com/define/dependent/.
Chicago Manual of Style (CMS):
Dependent. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/dependent/ (accessed: July 16, 2020).
American Psychological Association (APA):
Dependent. PayrollHeaven.com. Retrieved July 16, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/dependent/

Definition Sources


Definitions for Dependent are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 27th April, 2020 | 9 Views.