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tax-deductible
[ taks-di-duhk-tuh-buhl ]
adjective
- noting an item the value or cost of which is deductible from the gross amount on which a tax is calculated.
tax-deductible
adjective
- (of an expense, loss, etc) legally deductible from income or wealth before tax assessment
Example Sentences
If you dip into the pbs.org website, where programs from across the country are available to stream, most for free — a tax-deductible donation of $5 a month gets you a “PBS Passport” that unlocks the rest — you will find “Michigan Out-of-Doors,” “Wyoming Chronicle,” “Kentucky Afield,” “Prairie Sportsman,” “Virginia Farming,” “Tennessee Crossroads,” the Indigenous “Native Report,” shows on woodworking, fishing, quilting and high school sports.
The financial institution that, in 2023, moved its headquarters to Los Angeles said it would put $1 million into a relief and recovery fund, noting that anyone looking to help could make tax-deductible donations to the fund.
That's because many of these deductions can only be taken if you're itemizing, meaning you're adding up all of your tax-deductible spending like state and local taxes, mortgage interest and charitable contributions.
One common savings vehicle favored by both Khalfani-Cox and Lewis is the 529 investment plan, which offers tax-deductible withdrawals for qualified educational expenses.
Although the IRS recognizes the Duck Pond as a nonprofit eligible for tax-deductible donations, the organization has yet to register with the Registry of Charities and Fundarisers maintained by the state attorney general’s office.
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