tax deduction

Noun
  1. A reduction in the gross amount on which a tax is calculated;
    Reduces taxes by the percentage fixed for the taxpayer's income bracket (synset 113350069)
    is a type of: write-down, write-off - (accounting) reduction in the book value of an asset
    subtypes:
    • tax benefit, tax break - a tax deduction that is granted in order to encourage a particular type of commercial activity
    • business deduction - tax write-off for expenses of doing business
    • exemption - a deduction allowed to a taxpayer because of his status (having certain dependents or being blind or being over 65 etc.)
    same as: deduction, tax write-off

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