tax-deductible — /ˈtæks dədʌktəbəl / (say taks duhduktuhbuhl) adjective of or relating to any expense, loss, etc., which can be legally claimed as a deduction from taxable income …
deductible — de·duc·ti·ble 1 /di dək tə bəl/ adj: allowable as a deduction de·duc·ti·bil·i·ty / ˌdək tə bi lə tē/ n deductible 2 n: a clause in an insurance policy that relieves the insurer of responsibility for an initial specified loss of the kind insured… … Law dictionary
Tax forms in the United States — are used by taxpayers and tax exempt organizations to report financial information to the Internal Revenue Service (IRS). They are used to report income and calculate taxes owed to the government of the United States. TOC Federal tax forms 990… … Wikipedia
deductible — [dē dukt′ə bəl, di dukt′ə bəl] adj. 1. that can be deducted 2. that is allowed as a deduction in computing income tax [deductible expenses] n. 1. a clause in an insurance policy stating that the insurer will pay that portion of a loss, damage,… … English World dictionary
deductible — An amount or period which must be deducted before an insurance payout or settlement is calculated. Bloomberg Financial Dictionary * * * ▪ I. deductible de‧duct‧i‧ble 1 [dɪˈdʌktbl] noun 1. [countable usually plural] ACCOUNTING a payment that is… … Financial and business terms
loss — n 1: physical, emotional, or esp. economic harm or damage sustained: as a: decrease in value, capital, or amount compare gain b: an amount by which the cost of something (as goods or services) exceeds the selling price compare … Law dictionary
Tax avoidance and tax evasion — Tax avoidance is the legal utilization of the tax regime to one s own advantage, in order to reduce the amount of tax that is payable by means that are within the law. By contrast tax evasion is the general term for efforts to not pay taxes by… … Wikipedia
Disaster Loss — A special type of tax deductible loss, similar to a casualty loss, where a loss has been incurred by taxpayers who reside in an area that has been designated as a federal disaster area by the President. Disaster losses can arise from such… … Investment dictionary
Tax deduction — This article is about the deduction of expenses for the purpose of calculating taxable income. For tax deducted at source, see Withholding tax. Taxation An aspect of fiscal policy … Wikipedia
Loss on sale of residential property — Section 165(c) of the United States Tax Code limits losses that taxpayers can deduct into three categories: business or trade losses, investment losses, and losses incurred from casualty or theft. A loss incurred by a taxpayer from the sale of… … Wikipedia
