tax deduction

Related Terms
Fixed amount or percentage permitted by taxation authorities that a tax payer can subtract from his or her adjusted gross income to arrive at the taxable income. Deductions typically include allowances for home mortgage payment, home repair expenses, and higher study costs, etc. Not to be confused with deductible.

Use 'tax deduction' in a Sentence

If you can get a big tax deduction by doing something that can be just as valuable as the profit you may get.
18 people found this helpful
The millionaire only used his frequent donations to his charity foundation to get a tax deduction and improve his image.
16 people found this helpful
Roxanne waiting patiently to receive a signed receipt from the Goodwill shop worker for her donation so that she would have proof for the tax deduction when she filed her yearly tax returns.
14 people found this helpful




Email Print Embed


Mentioned in These Terms


  • 63537773 2018-02-19
  • 800463772 2018-02-19
  • 483929771 2018-02-19
  • 757618770 2018-02-19
  • 898576769 2018-02-19
  • 784484768 2018-02-18
  • 935121767 2018-02-18
  • 755185766 2018-02-18
  • 681379765 2018-02-18
  • 690204764 2018-02-18
  • 323435763 2018-02-17
  • 688202762 2018-02-17
  • 79305761 2018-02-17
  • 850445760 2018-02-17
  • 747315759 2018-02-17
  • 371174758 2018-02-17
  • 32926757 2018-02-17
  • 129933756 2018-02-16
  • 407764755 2018-02-16
  • 763660754 2018-02-16