Definitions and Examples of taxable, taxed
Learn when and how to use these words with these examples!
Subject to taxation; required to pay taxes.
Example
The income from his business is taxable and he needs to file his tax returns every year.
Having been taxed; having paid taxes.
Example
The company's profits were taxed at a rate of 20%, leaving them with a net profit of $100,000.
Key Differences: taxable vs taxed
- 1Taxable refers to something that is subject to taxation by law.
- 2Taxed refers to something that has already been taxed, meaning the taxes have been paid.
Effective Usage of taxable, taxed
- 1Financial Planning: Use these antonyms to understand the tax implications of different financial decisions.
- 2Legal Matters: Incorporate these antonyms in legal documents to ensure clarity and accuracy.
- 3Business Transactions: Utilize these antonyms in business transactions to ensure compliance with tax laws.
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Remember this!
The antonyms taxable and taxed convey the opposite meaning of nontaxable, which means not subject to taxation. Use these words to understand tax implications, ensure clarity in legal documents, and comply with tax laws in business transactions.
