Tax-Deductible

Business, Legal & Accounting Glossary

Definition: Tax-Deductible


Tax-Deductible

Quick Summary of Tax-Deductible


The effect of creating a tax deduction, such as charitable contributions and mortgage interest.




What is the dictionary definition of Tax-Deductible?

Dictionary Definition


That is exempt from payment of income tax.


Full Definition of Tax-Deductible


An item or expense subtracted from adjusted gross income to reduce the amount of income subject to tax. Tax authorities specify the items that can be deducted from gross income for the purpose of reducing taxable income, and the specific rules governing the deductibility of each of these items. Some examples of tax-deductible items include mortgage interest, state and local taxes, unreimbursed business expenses, and charitable contributions.


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October 05, 2022 https://payrollheaven.com/define/tax-deductible/.
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Tax-Deductible. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/tax-deductible/ (accessed: October 05, 2022).
American Psychological Association (APA):
Tax-Deductible. PayrollHeaven.com. Retrieved October 05, 2022
, from PayrollHeaven.com website: https://payrollheaven.com/define/tax-deductible/

Definition Sources


Definitions for Tax-Deductible 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: 21st November, 2021 | 0 Views.