Definition

Describing something that is subject to being taxed by the government.

Example

The money I earned from my job is considered taxable income.

Conversation

Hey, do you know what counts as taxable income?

Yeah, it usually includes wages and salaries from your job.

I thought there were some deductions that could lower your taxable amount.

Absolutely! Deductions can really help reduce what you owe.

Synonyms & Antonyms

Definition

A person or thing that must pay taxes or is subject to taxation.

Example

Cigarettes and alcohol are examples of taxables that the government taxes heavily.

Conversation

Have you heard about the new taxable items they added this year?

Yeah, I saw that cigarettes and liquor are included now.

It's surprising how many things are considered taxable these days.

Root Explanation

Taxable → It is formed from "tax" (from Latin "taxare", meaning to assess or estimate) and "-able" (meaning capable of). The word "taxable" refers to something that is capable of being assessed for tax purposes.

Memory Tip

Think of something that can be 'assessed' ('tax') and is 'capable of' being taxed ('-able'). This helps you remember that 'taxable' means it can be taxed.

Visually Confused Words