Definitions

from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.

  • n. a reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer's income bracket

Etymologies

Sorry, no etymologies found.

Examples

  • The business-use percentage becomes an immediate tax deduction as an expense or through depreciation.

    MORE WEALTH WITHOUT RISK

  • By using this strategy, Bob created a $1,500-per-year tax deduction 50 weeks × $30 per week.

    MORE WEALTH WITHOUT RISK

  • You must use the straight-line method, which give you approximately half the tax deduction the first year of the MACRS method.

    MORE WEALTH WITHOUT RISK

  • This couple achieved two objectives: funding their child’s education, and creating a $2,000-per-year tax deduction in the process.

    MORE WEALTH WITHOUT RISK

Comments

Log in or sign up to get involved in the conversation. It's quick and easy.