Itemized Deduction

Business / Accounting / Itemized Deduction: Amounts paid by an individual taxpayer for personal and quasi-business expenses that can be deducted in computing taxable income, such as medical expenses, property and income taxes, mortgage and investment interest, charitable contributions, moving expenses, casualty and theft losses, and certain miscellaneous expenses.

Other Words for Deduction

Deduction Verb Synonyms: subtraction, diminution, decrease, reduction, withdrawal, removal, abstraction
Deduction Noun Synonyms: conclusion, inference, finding, reasoning, result
MORE

Net-After Deductions

Business / Debt / Net-After Deductions: An amount of money e.g. income you take home after income tax, national insurance contributions, payments towards a pension scheme or any other deductions have been deducted, usually by your employer MORE

Payroll Deduction

Business / Accounting / Payroll Deduction: An amount subtracted from a paycheck as the government requires or the employee requests. Mandatory deductions include various taxes. Voluntary deductions include loan payments or deposits into saving MORE

Standard Deduction

Business / Finance / Standard Deduction: The method of calculating cost of sales that compares the amounts of materials, direct labor and overhead projected in the Cost of Sales assumption (the standard costs) to expenses allocated to the Pr MORE

Links
Home
Glossary
Thesaurus