Definitions from the Web
Term: Deductibility
Part of Speech: Noun
Definition 1: The ability to deduct or subtract an amount from taxable income, providing a reduction in the total tax liability.
Example sentence 1: The new tax laws introduced higher deductibility limits, enabling small business owners to claim more deductions.
Definition 2: The state of being eligible for or entitled to a deduction, typically for expenses incurred in relation to business activities or investments.
Example sentence 2: The deductibility of business-related travel expenses allowed the executive to lower his taxable income significantly.
Definition 3: The quality of being able to deduct or remove a particular item or category from a total, such as a deduction made from an insurance claim.
Example sentence 3: The deductibility of depreciation expenses from the purchase price helped the homeowner in reducing the insurance reimbursement claim.
Part of Speech: Adjective
Definition 1: Capable of being deducted or subtracted from a total or amount.
Example sentence 1: The cost of repairs was deemed deductibility under the insurance policy, resulting in a reduced financial burden for the homeowner.
Definition 2: Eligible or entitled to be claimed as a deduction.
Example sentence 2: The tax advisor explained that mortgage interest payments are generally considered deductible, subject to certain conditions.
Part of Speech: Adverb
Definition: In a manner that relates to or affects the deductibility of certain expenses or claims.
Example sentence: The tax consultant assessed the client's business expenditure deductibility, providing recommendations for maximizing tax benefits.
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