tax deduction

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Related to Deductible expense: Out of Pocket Expense

ThesaurusAntonymsRelated WordsSynonymsLegend:

Noun

tax 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

deduction, tax write-off

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.

Lagarde calls for level playing field for Islamic finance

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.

'Submit Alpha list'

In the event that the debt exceeds this ratio, the excess interest is not accepted by the Tax Authority as a deductible expense.

Tax receipts reach EGP 116bn

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.

IRS illustrates employee reimbursement plans

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.

From resident to landlord: depreciating a former personal residence: the combination of an economic recession, a mortgage crisis and an aging population has led to a large number of homeowners recently becoming landlords

The premiums are modest for a $5,000 deductible policy and should be a deductible expense for taxpayers.

Better options for individual health

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.

Broader interpretation of economic substance blunts deductions

The contribution to a pure captive is not a tax deductible expense.

Financing risk retention

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.

Industry experts answer your questions; Business Quiz

The cost of Quicken Rental Property Manager is less than $100 and it is a tax deductible expense.

Intuit/Quicken helps independent rental owners track finances

Since the AIL is a deductible expense, the net tax rate for a company is 1.

Annex II: The foreign investor tax credit and the approved issuer levy

They would then be able to claim back all of their property tax as a deductible expense.