Deductible Expense
/ˈdɛdʌktəbəl ɪkˈspɛns/
Definitions
- (n.) An expense that a taxpayer can subtract from gross income to reduce taxable income according to tax laws.
The business office supplies are a deductible expense on the company’s tax return.
Forms
- deductible expense
- deductible expenses
Related terms
See also
Commentary
In drafting, clearly specify which expenses qualify as deductible under relevant tax codes, as this affects tax liability calculations.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.