taxable

[ˈtæksəbl]

taxable Definition

• 1. subject to taxation
• 2. able to be taxed

Using taxable: Examples

Take a moment to familiarize yourself with how "taxable" can be used in various situations through the following examples!

• Example

  All income is taxable, including tips and bonuses.

• Example

  The company's profits are taxable at a rate of 25%.

• Example

  The inheritance was not taxable under current law.

taxable Synonyms and Antonyms

Synonyms for taxable

• taxed
• dutiable
• leviable

Antonyms for taxable

• nontaxable
• exempt
• untaxed

Phrases with taxable

• taxable income

  income that is subject to taxation by the government

  Example

  Your taxable income is calculated by subtracting your deductions from your total income.

• taxable value

  the value of a property or asset that is used to calculate the amount of tax owed on it

  Example

  The taxable value of the estate was determined by an appraiser.

• taxable event

  an occurrence that triggers a tax liability

  Example

  Selling a stock at a profit is a taxable event.

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Summary: taxable in Brief

'Taxable' [ˈtæksəbl] refers to something that is subject to taxation. It can be used to describe income, profits, or assets that are liable to be taxed. For example, 'All income is taxable, including tips and bonuses.' 'Taxable' has related phrases such as 'taxable income,' which refers to income that is subject to taxation, and 'taxable event,' which is an occurrence that triggers a tax liability.