tax deduction

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Related to Deductible expense: Out of Pocket Expense
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.tax deduction - a reduction in the gross amount on which a tax is calculatedtax deduction - a reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer's income bracket
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.); "additional exemptions are allowed for each dependent"
write-down, write-off - (accounting) reduction in the book value of an asset
References in periodicals archive ?
Income tax systems typically recognize interest gains on debt instruments as a deductible expense.
The submission thereof, including any alpha list that does not conform with the prescribed format thereby resulting to the unsuccessful uploading into the BIR system shall be deemed not received and shall not qualify as a deductible expense for income tax purposes," she added.
In the event that the debt exceeds this ratio, the excess interest is not accepted by the Tax Authority as a deductible expense.
Under the business connection requirement, the employee must pay or incur a deductible expense, and the expense must arise in connection with the employee's performance of services for the employer (Regs.
Depreciation is a deductible expense, based on the notion that everyday wear and tear on a property should be recognized ratably over the expected useful life of that property.
The premiums are modest for a $5,000 deductible policy and should be a deductible expense for taxpayers.
2001) "observing that 'a transaction that lacks economic substance is not recognized for [f]ederal tax purposes' and that 'denial of recognition means that such a transaction cannot be the basis for a deductible expense.
The contribution to a pure captive is not a tax deductible expense.
Buying your employees gifts will be a deductible expense for the company, but likely to be taxed as a benefit in kind on each individual employee.
The cost of Quicken Rental Property Manager is less than $100 and it is a tax deductible expense.
Since the AIL is a deductible expense, the net tax rate for a company is 1.
They would then be able to claim back all of their property tax as a deductible expense.