Library / English Dictionary

    TAX DEDUCTION

    Pronunciation (US): Play  (GB): Play

     I. (noun) 

    Sense 1

    Meaning:

    A reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer's income bracketplay

    Synonyms:

    deduction; tax deduction; tax write-off

    Classified under:

    Nouns denoting possession and transfer of possession

    Hypernyms ("tax deduction" is a kind of...):

    write-down; write-off ((accounting) reduction in the book value of an asset)

    Hyponyms (each of the following is a kind of "tax deduction"):

    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.))

    Credits


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