tax-deductible
Reduces taxable income
Tax-deductible describes expenses that can be subtracted from taxable income, reducing the amount of tax owed: Charitable donations are tax-deductible.
The term applies to business expenses, mortgage interest, medical costs, and other items allowed by tax law.
Something being tax-deductible doesn't mean free—it means you pay less tax on it.
Recorded value reduction
- itemizationCataloging into distinct entries
- receiptsTransaction documentation
- record-keepingMaintaining organized documentation
- filingStoring documents systematically
compliance · documentation · audit · depreciation · amortization · exemption · adjustment · reporting
Donating to help others
- donationVoluntary charitable gift
- philanthropyGenerous giving for others
- nonprofitOrganization serving public good
- titheTenth for clergy
zakat · endowment · donor-advised fund · in-kind donation · matching gift · bequest
Fee for borrowed home funds
- charitable donationsGifts to worthy causes
- medical expensesFees for treatment
- business expensesCosts of commercial operations
- student loan interestCost of borrowed tuition
tuition fees · childcare costs · home office · retirement contributions · health savings account · moving expenses · energy credits · alimony payments
Tax-advantaged retirement savings account
- IRATax-advantaged retirement fund
- Roth IRATax-advantaged retirement account
- pensionRetiree's ongoing benefit
- traditional IRATax-deferred retirement account
SEP-IRA · 403(b) · annuity · employer match · contribution limit · rollover · vesting · tax-deferred
write-off
Recorded value reduction
- itemizationCataloging into distinct entries
- receiptsTransaction documentation
- record-keepingMaintaining organized documentation
filing · compliance · documentation · audit · depreciation · amortization · exemption · adjustment · reporting · schedules
charitable giving
Donating to help others
- donationVoluntary charitable gift
- philanthropyGenerous giving for others
- nonprofitOrganization serving public good
tithe · zakat · endowment · donor-advised fund · in-kind donation · matching gift · bequest
mortgage interest
Fee for borrowed home funds
- charitable donationsGifts to worthy causes
- medical expensesFees for treatment
- business expensesCosts of commercial operations
student loan interest · tuition fees · childcare costs · home office · retirement contributions · health savings account · moving expenses · energy credits · alimony payments · mileage
401(k)
Tax-advantaged retirement savings account
- IRATax-advantaged retirement fund
- Roth IRATax-advantaged retirement account
- pensionRetiree's ongoing benefit
traditional IRA · SEP-IRA · 403(b) · annuity · employer match · contribution limit · rollover · vesting · tax-deferred
tax-deductibletaxable
Subject to government levy
disallowed · after-tax · taxed · ineligible · assessable
taxing, deduction, deduce, deduct, taxes, taxation, deductions, deductive, untaxed