Taxable: meaning, definitions and examples
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taxable
[ ˈtæksəbl ]
financial context
Taxable refers to income or transactions that are subject to taxation by government authorities. This includes wages, salaries, and other forms of earnings that must be reported for tax purposes. Certain conditions must be met for income to be considered taxable, such as exceeding a specific threshold set by tax regulations. Understanding what is taxable is crucial for compliance with tax laws and ensuring proper financial planning.
Synonyms
Examples of usage
- Your taxable income determines how much you owe in taxes.
- Not all income is taxable; some sources may be tax-exempt.
- Keep track of your taxable deductions to reduce your tax bill.
Translations
Translations of the word "taxable" in other languages:
🇵🇹 tributável
🇮🇳 कर योग्य
🇩🇪 besteuerbar
🇮🇩 kena pajak
🇺🇦 оподатковуваний
🇵🇱 opodatkowany
🇯🇵 課税対象の
🇫🇷 imposable
🇪🇸 tributable
🇹🇷 vergilendirilebilir
🇰🇷 과세 대상의
🇸🇦 خاضع للضرائب
🇨🇿 zdanitelný
🇸🇰 zdaniteľný
🇨🇳 应税的
🇸🇮 obdavčljiv
🇮🇸 skattalegur
🇰🇿 салық салынатын
🇬🇪 გადასახადის ქვეშ მყოფი
🇦🇿 vergiyə cəlb olunan
🇲🇽 sujeto a impuestos
Word origin
The word 'taxable' originates from the late 14th century, deriving from the Old French word 'taxer' meaning to assess or impose a tax. This, in turn, comes from the Latin 'taxare', which means to touch, estimate, or evaluate. The concept of taxation has existed since ancient civilizations, where rulers imposed taxes on goods, land, and income to fund public services and government operations. Over time, the term evolved to specifically denote income or property that can be subjected to tax assessments. The growth of government and its need for revenue led to more formalized tax structures, particularly during the Renaissance and into the modern era, resulting in specific legislation that defines what constitutes taxable income in contemporary society.