A deductible amount can be taken away from a total.

Expenses like office phone bills are tax-deductible (= you do not have to pay tax on them). 办公电话费等开支可从纳税项目中扣除。

an amount of money that is taken away from an employee's pay before they receive it

a part of the cost of an accident, injury, etc., that you agree to pay when you buy insurance

Customers can lower insurance premiums by taking higher deductibles. 顾客可以选择高免赔额来降低保险费。