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deduction

Definition
An expense subtracted from adjusted gross income when calculating taxable income, such as for state and local taxes paid, charitable gifts, and certain types of interest payments. also called tax deduction.




deduction is ...
... part of the Taxes subject.
... an essential investing term.


Related Terms

itemized deduction -  More
marital deduction -  More
standard deduction -
tax credit, dependency ratio, abusive tax shelter, adjusted basis, adjustment, AGI, Alternative Minimum Tax, AMT, carryback, dividends-received deduction  and  

deduction appears in these other terms

interest deduction

deduction appears in the definitions of these other terms on BusinessDictionary.com
liabilities of directors, disappearing deductible, salary reduction plan, savings scheme, take home pay, and  
 
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