Business / Accounting / Tax Deduction: An expense that a taxpayer can subtract from taxable income. Examples include deductions for home mortgage interest and for charitable gifts. (See Tax Credit, Tax Exemption.) Tax Deferred Investments where taxes due on the amount invested and/or its earnings are postponed until funds are withdrawn, usually at retirement.
Deduction Noun Synonyms: conclusion, inference, finding, reasoning, result
Deduction Verb Synonyms: subtraction, diminution, decrease, reduction, withdrawal, removal, abstraction
Tax Adjective Synonyms: levy, impost, duty, tariff, assessment, tribute, toll, excise, customs, charge, contribution, scot, tithe, octroi, cess, rate(s), dues
Tax Noun Synonyms: assess, exact, demand, charge, impose or levy a tax (on), tithe
Business / Finance / Tax-Deferred Retirement Plans: The effect of creating a tax deduction, such as charitable contributions and mortgage interest. MORE
Business / Finance / Mortgage Interest Deduction: A federal tax deduction for interest paid on a mortgage used to acquire, construct, or improve a residence. MORE