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Untaxed for Dummies

adjective

pronunciation: ən'tækst

What does Untaxed really mean?

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Untaxed means that something has not been taxed or had taxes paid on it. Let me explain it to you in a way that is easy to understand. Imagine you have a toy, like a remote-controlled car. When you buy that toy from the store, you usually have to pay some extra money called taxes. Those taxes go to the government and help pay for things like schools and roads. But sometimes, there are things that don't have taxes on them, which means you don't have to pay any extra money when you buy them. This is what we mean when we say something is untaxed.

Let's take another example, like a birthday gift. When your friends or family give you a present for your birthday, you don't have to pay any taxes on it because it's a gift. So, that gift would be considered untaxed. The important thing to remember is that when something is untaxed, it means you don't have to pay any extra money for taxes on that item or object.


Revised and Fact checked by Michael Johnson on 2023-10-29 22:27:34

Untaxed In a sentece

Learn how to use Untaxed inside a sentece

  • When you receive a gift from your grandparents, the money they give you is usually untaxed, which means you don't have to pay any taxes on it.
  • If you sell your old toys at a yard sale and make some money, that income is often untaxed because it is considered a personal transaction.
  • Some food banks and charities provide untaxed food and supplies to people in need, which means those items are given without any additional tax payments.
  • If you win a prize in a competition or a contest, the value of the prize might be untaxed, so you don't have to pay any taxes on its worth.
  • Certain non-profit organizations, like religious institutions or charities, may qualify for untaxed status, which means they are exempt from paying certain taxes.

Untaxed Synonyms

Words that can be interchanged for the original word in the same context.

tax-exempt tax-free

Untaxed Similar Words

Words that similar to the original word, but are not synonyms.

exempt nontaxable