What is another word for write-offs?
Pronunciation: [ɹˈa͡ɪtˈɒfs] (IPA) 
Write-offs refer to deductions or expenses that can be subtracted from income to decrease taxable income. There are several synonyms for write-offs, including deductions, allowances, exemptions, tax breaks, and credits. Deductions refer to expenses that are subtracted from income before taxes are calculated, whereas allowances are amounts that can be claimed to reduce taxable income. Exemptions are similar to allowances, but they are specific to certain circumstances, such as dependents. Tax breaks are incentives offered by the government to encourage certain behaviors, such as charitable donations. Finally, credits are dollar-for-dollar reductions in taxes owed, while write-offs are a reduction in taxable income. Knowing these synonyms for write-offs can be helpful for tax planning and understanding financial jargon.
