What is another word for tax writeoff?
Pronunciation: [tˈaks ɹˈa͡ɪtɒf] (IPA) 
A tax writeoff is a term used to describe any expense that can be deducted from a person's taxable income. There are several synonyms that can be used to describe this concept, including tax deduction, tax credit, and tax exemption. A tax deduction refers to any item that can be subtracted from a person's taxable income, such as charitable donations or medical expenses. A tax credit is a dollar-for-dollar reduction in a person's tax liability, while a tax exemption is an amount of income that is not subject to taxation. Regardless of the terminology used, tax writeoffs are an important tool for reducing taxes and maximizing personal finances.
