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.
In addition, for donations of $250 or more, no deduction is allowed unless substantiated by a contemporaneous written acknowledgment by the donee--which must include the amount of money donated; whether the donee provided any goods or services in consideration for the donation; and a good faith estimate of their value.
Detailed certification and inspection requirements, involving qualified professionals, must be satisfied before the deduction may be taken.
And this is a deduction that is often overlooked, said Pete Moraga, spokesman for the Los Angeles-based Insurance Information Network.
The domestic manufacturers' deduction permits a phased-in deduction of a specified percentage of a business's "qualified production activities income" or its taxable income, whichever is lower.
The two biggest benefits for businesses under the new law are increases in the small business expensing election, commonly known as the Section 179 deduction, and the 50% bonus depreciation deduction.
A wide variety of company demographics and levels of experience lend to a statistical analysis and best practice finding while examining the deduction resolution process according to responsibility and reporting structure.
Four years later, the Bush administration has offered a more targeted policy in which taxpayers would receive a tax deduction for their long term care insurance premiums.
New rules governing the clergy housing deduction don't change much for Anglicans, but they also don't override troubling proposals to change the amount of the deduction and how it is calculated.
Any experienced tax accountant will (or certainly should) know about every tax deduction listed in this book.
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.
265(a)(2) provides a general rule that no deduction is allowed for interest on debt incurred or continued to purchase or carry obligations, the interest on which is wholly exempt from Federal income taxes.