tax deduction

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  • noun

Synonyms for tax deduction

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

References in periodicals archive ?
A federation of teachers has reminded the Commission on Elections (COMELEC) on the refund the tax deduction in the election service compensation of some teachers who served in the 2018 barangay elections.
The BCCI was headed by former president N Srinivasan then and at no point, say those in the know, did the Chennai-based administrator tell the ICC that BCCI would compensate them for tax deductions should they not receive a waiver from the government.
This process gets very exciting if you have multiple non-taxed entities because the tax deductions to you can really add up.
'In addition to the tax deduction under Section 3, the incentives granted by theaters and cinemas shall be exempt from any amusement tax under the National Internal Revenue Code or any tax of similar nature on such kind of incentive that may be imposed by Local Government Units under the law,' Binay said her bill.
Meanwhile, the White House is looking to keep tax deductions relating to mortgage interests.
For lighting, one could realize a maximum tax deduction of $0.60 per sq ft (one-third of the total) if Standard 90.1 were exceeded by 40 percent (assuming controls were used in certain spaces).
The government will increase tax deductions for job-creating investments by counting one regular part time employee as 0.75 full time employees, an increase from 0.5 full time employees.
Real estate tax is an allowable itemized deduction for federal and state income tax, and California conforms to federal law regarding real estate tax deductions. You should use the same deduction amount on both the federal and state tax returns.
Synopsis: Americans oppose eliminating common tax deductions, either as part of a plan to lower the overall income tax rate or to reduce the federal budget deficit.
* Don't overlook these commonly missed tax deductions.
* Home Business Tax Deductions: Keep What You Earn, by Stephen Fishman (Nolo, 4th ed., 2007), explains how owners of home-based businesses can take advantage of tax deductions such as office costs, health insurance, meals and entertainment, and startup and operating expenses.
(1) However, Kaplow (1991b, 1992b) proves that, when private insurance is available, tax deductions for net losses are inefficient.
Architects, lawyers, physicians and other licensed professionals can all benefit from a tax guide tailored for them in Tax Deductions for Professionals, a survey of the special tax considerations applying to this group.
Third, the law provides that tax deductions that would otherwise accrue to federal, state, and local government buildings shall go to "the person primarily responsible for designing the property." To the extent that there are any tax deductions, the law requires that taxpayers must make corresponding reductions in the tax basis for the building.