Skip to main content

What is a tax write-off?

TaxWarren Team

Quick answer

A "tax write-off" is informal slang for a tax deduction, an expense that reduces your taxable income. A $1,000 deduction in the 22% bracket saves $220 in tax, not $1,000.

Tax write-off vs tax credit value comparison.
Tax write-off vs tax credit value comparison.

The information provided is for educational purposes only and should not be considered as personalized financial advice. Warren is a registered investment advisor. Past performance does not guarantee future results. Please consult with a qualified financial advisor before making investment decisions. Read our disclaimers.

All questions

Get an answer built on your own numbers

Warren reads your accounts, then answers questions like this one with your real income, taxes and goals in mind.