deductible
- 01 B2 Upper Intermediate
n.the specific amount of money you must pay for a loss or medical bill before your insurance company starts to pay.
n.the fixed amount of expenses that a policyholder must pay out of pocket before an insurer assumes liability for further costs.
Simple“I had to pay a five-hundred-dollar deductible before the insurance covered my car repairs.”
In context“Choosing a higher deductible can significantly lower your monthly premium, though it increases your financial risk in the event of a major claim.”
UsageIn British English, this is usually called an 'excess'.
Synonyms - 02 B2 Upper Intermediate
adj.describes an amount of money, like a business cost, that you can subtract from your total income so you pay less tax.
adj.allowable as a deduction from gross income when calculating taxable income or other financial totals.
Simple“The money you spend on office supplies is usually tax deductible for your business.”
In context“The accountant confirmed that the charitable donations were fully deductible under the current tax code, reducing the firm's overall liability.”
UsageOften follows the word 'tax' as in 'tax-deductible'.
SynonymsallowablesubtractableAntonymsnon deductible
From deduct + -ible.
Etymology adapted from Wiktionary, available under CC BY-SA 4.0.