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deductibility

Pronunciation: [dɪˌdʌk.təˈbɪl.ɪ.ti]

Word

Learn how to use deductibility in a sentence: 6 audio examples across 2 meanings.

Context: “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.

Example

Donations to charity often have deductibility, which means you can subtract them from your taxable income.

Example

Buying personal items does not have deductibility, so you cannot reduce your taxes with those purchases.

Example

Do you know which expenses have deductibility when filing your taxes?

Context: “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.

Example

The new law increased the deductibility of medical expenses for taxpayers.

Example

Certain costs were excluded from deductibility, making it harder for some people to save on taxes.

Example

What changes have been made to the deductibility of home office expenses?

How to pronounce deductibility

Pronunciation: [dɪˌdʌk.təˈbɪl.ɪ.ti]

Listen and repeat as many times as you need.

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