deduction


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Related to deduction: tax deduction
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  • noun

Synonyms for deduction

Synonyms for deduction

an amount deducted

a position arrived at by reasoning from premises or general principles

Synonyms for deduction

a reduction in the gross amount on which a tax is calculated

an amount or percentage deducted

something that is inferred (deduced or entailed or implied)

reasoning from the general to the particular (or from cause to effect)

the act of subtracting (removing a part from the whole)

the act of reducing the selling price of merchandise

References in periodicals archive ?
525, Taxable and Nontaxable Income: Miscellaneous Income, states that the taxable amount is further limited to the excess of the state income tax deduction over the state and local general soles tax deduction that could have been claimed.
Essentially, the legal fees and costs are afforded an above-the-line deduction.
The Joint Committee on Taxation's Technical Explanation states that "It is noted that the President's Advisory Panel on Federal Tax Reform and the staff of the Joint Committee on Taxation both have concluded that the fair market value-based deduction for contributions of clothing and household items present difficult tax administration issues, as determining the correct value of an item is a fact-intensive, and thus also a resource-intensive matter.
The Section 179 deduction allows a small business to deduct up front the cost of new equipment bought, delivered, and put into service (but not necessarily paid for) before Dec.
Their legislation includes both a tax deduction for long-term care insurance premiums and a tax credit of $1,000 in 2004 for people who require at least six months of long-term care during the year.
52) "Attorney Comments on Manufacturing Deduction Guidance," 2005 TNT 46-16 (comments of former IRS Commissioner Donald Alexander); "Group Seeks Change in Domestic Production Activities Guidance," 2005 TNT 72-21 (Marcia 29, 2005) (comments of Design Professionals Coalition); "PwC Makes Recommendations for Domestic Production Deduction Guidance," 2005 TNT 72-28 (March 31, 2005) (comments of PricewaterhouseCoopers LLP on behalf of oilfield equipment and services companies) ("PwC Comments"); "Architects Take Issue With Definition of 'Construction Project'," 2005 TNT 72-14 (April 15, 2005) (comments of American Institute of Architects).
Here is the most important piece of information in this book: You have to find these deductions yourself.
Those changes would make employers, not employees, have to determine the amount of the deduction, and to set caps on the amount claimed.
Limiting the mortgage interest deduction and eliminating the property tax deduction would hurt home values, increase foreclosures and increase the number of troubled loans held by banks and savings and loans.
No one wants to repeal the entire homeowner tax deduction.
Without an accurate record of each trip's distance, taxpayers are unable to get this valuable deduction.
It's impossible to say how much of a tax savings will result if you have a valid deduction but if you know what tax bracket you're in a guesstimate is possible.
These tax breaks range from a deduction of up to $1.
Assume that all the options are exercised, resulting in a tax deduction of $2,000.