| Library / English Dictionary |
TAX DEDUCTION
| Pronunciation (US): |  | (GB): | |
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 bracket
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.))
