deductible

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Sure! Let's break down the word "deductible."

Definition

The word "deductible" can be used as both an adjective and a noun.

Usage Instructions

• Adjective: Use "deductible" to describe expenses or amounts that can be subtracted in financial contexts, like taxes or insurance.

  • Example: "The cost of my work uniforms is deductible on my tax return."

• Noun: Use "deductible" when talking about the amount of money you must pay before insurance coverage kicks in.

  • Example: "I have a $1,000 deductible on my car insurance policy."

Example Sentences

• Adjective: "Donations to charity are often tax-deductible, meaning you can subtract them from your taxable income."
• Noun: "After the accident, I realized I had to pay the $500 deductible before my insurance would cover the rest of the repair costs."

Advanced Usage

In more complex financial discussions, "deductible" may refer to various types of expenses or conditions in tax regulations. It can also be used in legal contexts when discussing contractual obligations related to insurance.

Word Variants

• Deduct (verb): To take away or subtract something.
  • Example: "You can deduct your business expenses from your income."
• Deduction (noun): The amount that is subtracted.
  • Example: "The tax deduction reduced my taxable income."

Different Meanings

While “deductible” is mainly used in financial contexts, it's important to note that in everyday language, it doesn't have many different meanings. It is primarily associated with taxes and insurance.

Synonyms

• Subtractable
• Deductable (less common, but sometimes used)
• Tax-exempt (in some contexts, though this means you don't have to pay tax at all)

Idioms and Phrasal Verbs

There are no specific idioms or phrasal verbs that directly use "deductible," but you might hear phrases like "write off" which means to deduct something for tax purposes.

Summary

In summary, "deductible" is a useful term in financial situations, especially regarding taxes and insurance. Remember, it can describe expenses that can be subtracted (adjective) or the amount you pay before insurance covers costs (noun).

Academic

Adjective

1. acceptable as a deduction (especially as a tax deduction)

Noun

1. a clause in an insurance policy that relieves the insurer of responsibility to pay the initial loss up to a stated amount
2. (taxes) an amount that can be deducted (especially for the purposes of calculating income tax)