tax-deductible
Definition
An item or expense subtracted from adjusted gross income to reduce the amount of income subject to tax. Tax authorities specify the items that can be deducted from gross income for the purpose of reducing taxable income, and the specific rules governing the deductibility of each of these items. Some examples of tax-deductible items include mortgage interest, state and local taxes, unreimbursed business expenses, and charitable contributions.
 Cite this definition
'tax-deductible
' appears in the definitions of these terms on BusinessDictionary.com
consumer interest, employee stock ownership plan (ESOP), tax shelter
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