If an expense is tax-deductible, it can be paid out of the part of your income on which you do not pay tax, so that the amount of tax you pay is reduced.
The cost of private childcare should be made tax-deductible.
Keep track of tax-deductible expenses, such as the supplies and equipment you buy.
tax-deductible in British English
adjective
(of an expense, loss, etc) legally deductible from income or wealth before tax assessment
tax-deductible in American English
(ˈtæksdiˈdʌktəbəl)
adjective
that is allowed as a deduction in computing income tax
tax deductible in Accounting
(tæks dɪdʌktɪbəl)
adjective
(Accounting: Tax)
If an expense or loss is tax deductible, it can be paid out of the part of your income on which you do not pay tax, so thatthe amount of tax that you pay is reduced.
The interest is tax deductible, so the interest cost is less than the tax-free gain on the house price.
Tax policy has also encouraged employee contributions to pension funds by makingthem tax deductible.
If an expense or loss is tax deductible, it can be paid out of the part of your income on which you do not pay tax, so thatthe amount of tax that you pay is reduced.
tax
In other languages
tax-deductible
British English: tax-deductible ADJECTIVE
If an expense is tax-deductible, it can be paid out of the part of your income on which you do not pay tax, so that the amount of tax you pay is reduced.
The cost of private childcare should be made tax-deductible.