Write-Off
Also called: write off, writeoff, business expense
A business cost you can take away from your income, so you pay less tax. It is another name for a business tax deduction.
Example
The ring light and camera you bought for your content business may be a write-off.
Why it matters
A write-off is not free stuff. It only lowers the income you pay tax on, so keep your receipts.
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All the money your business brings in before you pay any costs.
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A way to make extra money outside your main job. It can grow into your own business.
For learning, not personal financial, tax or legal advice. Rules and limits can change each year, so check official sources (like IRS.gov or your plan's documents) or a trusted pro before big decisions.