An expense subtracted from adjusted gross income when calculating taxable income,...
Act of deducting or taking away; subtraction; as, the deduction of the subtrahend from the minuend.
That which is or may be deducted; the part taken away; abatement; as, a deduction from the yearly rent in compensation for services; deductions from income in calculating income taxes.
Money subtracted from gross pay for such things as taxes, insurance and pension plans.
An amount that is subtracted from a paycheck or an invoice.
An amount of money held back by the lender from the mortgage advance. Could be for appraisal fee, commitment fee, interest adjustment or for realty tax account.
An expense allowed by the IRS or state tax authority that is used to offset taxable income. Federal deductions include some interest paid, state and local taxes, and charitable contributions.
An amount that can be subtracted from taxable income.
An amount subtracted from adjusted gross income for the purposes of paying taxes.
Costs which, according to tax law, can be discounted to set the taxable profit of an enterprise.
An amount that the tax law says may be subtracted from otherwise taxable income.
a reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer's income bracket
the act of subtracting (removing a part from the whole); "he complained about the subtraction of money from their paychecks"
a claim to reduce your taxable income
an expense or loss allowed by the Internal Revenue Code to reduce a taxpayer's taxable income
an expense or the value of an item that you can subtract from your gross income to determine your taxable income and reduce the amount of tax you pay
a reduction from gross income or assessable income
An authorised amount of money that is taken out of the employee's wages with the employee's written consent. For example, tax, superannuation, medicare, voluntary savings or union dues.
A legislatively granted privilege to subtract some amount from a taxpayer's income.
A deduction is an amount that you subtract from your taxable income. As a result, a deduction lowers your taxable income, which, in turn, lowers your tax liability.
A subtraction from taxable income.
A deduction is an amount that can be subtracted from the total amount of taxes owed.
An amount that can be subtracted from gross income, from a gross estate, or from a gift, lowering the amount on which tax is assessed.
An expense that is allowable as a reduction of gross taxable income by the IRS e.g., charity donations.
amount that may be subtracted from gross income.
The amount that one is able to subtract from their income reported for tax purposes
Something that may be subtracted from taxable income.
Monies due the distributor collected by subtracting that money from the distributor’s next remittance to the vendor.
A gross-to-net element amount which is subtracted from gross earnings. This amount does not reduce the Federal Income Tax subject gross.
In tax law, an amount that you can subtract from the total amount on which you owe tax. Examples of federal income tax deductions include mortgage interest, charitable contributions and certain state taxes. For example, if Aimee receives an income of $60,000 in 1998 and pays $12,000 in mortgage interest during that same year, she can deduct $12,000 when she fills out her federal tax return, leaving an amount of $48,000 upon which she must pay tax.
An amount subtracted from an employee's gross pay to reach net pay, or an amount allowed to taxpayers as an offset against income.
An item or expenditure subtracted from adjusted gross income to reduce the amount of income subject to tax.
An expense allowed by the IRS in calculating tax liability. See: Expense.
For tax purposes, the portion of an estate that does not generate tax (such as a marital deduction).
An amount that may be subtracted from income that is otherwise taxable.
see paycheque deduction, tax deduction
An expense that may be deducted from your income that is otherwise taxable so as to lower your taxable income.
In tax law, an amount that can subtracted from the amount prior to the calculation of tax due.
An expense that can be subtracted from an individual's adjusted gross income to obtain their taxable income. The type of expense deductions allowed is determined by the Internal Revenue Service (IRS). Examples include state and local taxes, charitable contributions and mortgage interest paid.
Business expenses or losses that are subtracted from gross income in computing taxable income.
Something which reduces the amount of your taxable income or your chargeable gains. A business expense, such as the purchase of stationery supplies, is a deduction that can be used to reduce the amount of your taxable business profits. Indexation allowance (to April 1998) is a deduction that can be made in the calculation of your chargeable gain on the disposal of an asset.