Deduction

Business / Taxes / Deduction: A deduction is an amount you can subtract from your gross income or adjusted gross income to lower your taxable income when you file your income tax return

Other Words for Deduction

Deduction Noun Synonyms: conclusion, inference, finding, reasoning, result
Deduction Verb Synonyms: subtraction, diminution, decrease, reduction, withdrawal, removal, abstraction
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Deductions (Food Stamps)

Business / Agriculture / Deductions (Food Stamps): When calculating a household’s monthly food stamp benefit, food stamp rules require calculation of its net income, with lower net income amounts (larger deductions) producing higher food stamp benef 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

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 inve MORE

Mortgage Interest Deduction

Business / Finance / Mortgage Interest Deduction: A federal tax deduction for interest paid on a mortgage used to acquire, construct, or improve a residence. MORE

Tax Deduction

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 MORE

Marital Deduction

Business / Finance / Marital Deduction: A tax deduction that allow spouses to transfer unlimited amounts of property to one another. MORE

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