deductibility
Prononciation : [dɪˌdʌk.təˈbɪl.ɪ.ti]
Mot
Contexte : « finance »
(noun) deductibility refers to whether something can be taken away from your total income to reduce the amount you pay in taxes. If something has deductibility, you can use it to lower your tax bill.
Exemple
Donations to charity often have deductibility, which means you can subtract them from your taxable income.
Exemple
Buying personal items does not have deductibility, so you cannot reduce your taxes with those purchases.
Exemple
Do you know which expenses have deductibility when filing your taxes?
Contexte : « law »
(noun) deductibility can also be about laws that tell you which costs can be considered as not taxable. It helps people understand their rights when they spend money in certain ways.
Exemple
The new law increased the deductibility of medical expenses for taxpayers.
Exemple
Certain costs were excluded from deductibility, making it harder for some people to save on taxes.
Exemple
What changes have been made to the deductibility of home office expenses?
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