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tax deduction
| Babylon English | Download this dictionary |
tax deduction
lessening the income tax taken from individuals
| English Wikipedia - The Free Encyclopedia | Download this dictionary |
Tax deduction
Tax deduction is a reduction of income that is able to be taxed, and is commonly a result of expenses, particularly those incurred to produce additional income. The difference between deductions, exemptions and credit is that deductions and exemptions both reduce taxable income, while credits reduce tax.
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| WordNet 2.0 | Download this dictionary |
tax deduction
Noun
1. a reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer's income bracket
(synonym) tax write-off, deduction
(hypernym) write-off, write-down
(hyponym) tax benefit, tax break
| Campbell R. Harvey's Hypertextual Finance Glossary | Download this dictionary |
Tax deduction
An expense which a taxpayer is allowed to deduct from taxable income.
