(offsetting, offset, offset) to use one cost, payment or situation in order to cancel or reduce the effect of another offset something Prices have risen in order to offset the increased cost of materials. offset something against something (British English) What expenses can you offset against tax?Extra examples The company’s losses in the US were more than offset by gains everywhere else. The loss was partially offset by increases in revenues elsewhere. The money will help offset big medical bills. Your donations to charity can be offset against tax. Fuel prices have risen to offset the increased costs of crude oil. Offset against this return will be all the costs involved in developing the product. The cost of social benefits to immigrants is more than offset by their contribution to the economy generally. What expenses can you offset against tax?
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BrE BrE//ˈɒfset//; NAmE NAmE//ˈɔːfset//, NAmE//ˈɑːfset//Verb Forms present simple I / you / we / they offset
BrE BrE//ˈɒfset//; NAmE NAmE//ˈɔːfset//, NAmE//ˈɑːfset//he / she / it offsets
BrE BrE//ˈɒfsets//; NAmE NAmE//ˈɔːfsets//, NAmE//ˈɑːfsets//past simple offset
BrE BrE//ˈɒfset//; NAmE NAmE//ˈɔːfset//, NAmE//ˈɑːfset//past participle offset
BrE BrE//ˈɒfset//; NAmE NAmE//ˈɔːfset//, NAmE//ˈɑːfset//-ing form offsetting
BrE BrE//ˈɒfsetɪŋ//; NAmE NAmE//ˈɔːfsetɪŋ//, NAmE//ˈɑːfsetɪŋ//