Definition, Meaning & Synonyms
offset-expenses
noun
/ˈɔfˌsɛt ɪkˈspɛnsɪz/
Definition
Offset expenses refer to costs that are counterbalanced or reduced by other financial factors or transactions.
Examples
- By selling unwanted equipment, the business was able to offset expenses related to storage.
- Tax credits can help offset expenses incurred during the year, making filing easier.
- Implementing energy-saving measures may offset expenses on utility bills.
Meaning
The term often applies to accounting and finance, where certain expenses can be offset against income or gains to lower taxable income or overall expenditure.
Synonyms
- counterbalancing costs
- deductible expenses
- reducible costs
