deducible in a sentence
a.
Definition
Deductible refers to expenses that can be subtracted from total income or revenue when calculating taxable income.
Sample Sentences
- The expenses for home office equipment are often deductible on your tax return if they are deemed necessary and directly related to your work.
- In her financial analysis, she explained that the costs associated with the project are fully deductible from the total revenue.
- After consulting with a tax professional, he discovered that some of his medical expenses were indeed deductible under current tax laws.
- The accountant emphasized that not all business expenses are deductible, and careful documentation is essential.
- Understanding which expenses are deductible can significantly impact your overall tax liability.
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