deductible deductible  /dɪ ˈdək tə bəl/

Definition(s):

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

Usage(s):

  1. And a lower monthly premium tends to come with a higher annual deductible.
  2. A tax-deductible personal savings account, usually offered by employers along with high-deductible health-insurance plans, that can be used to pay for medical expenses.
  3. If your home is insured for $250,000 and you have a 5% hurricane deductible, you would pay for the first $12,500 of hurricane damages.

News

  • When to pay down mortgage

    For years, I've been telling you that you likely have better things to do with your money than to prepay a low-rate, tax-deductible debt such as a mortgage.
    on June 22, 2013     Source: MSN

Word of the Day
repudiate repudiate
/ri ˈpju di ˌeɪt /