business deduction

Also found in: Thesaurus.
Related to business deduction: Business Expense Deductions
ThesaurusAntonymsRelated WordsSynonymsLegend: deduction - tax write-off for expenses of doing business
entertainment deduction - deduction allowed for some (limited) kinds of entertainment for business purposes
deduction, tax deduction, tax write-off - a reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer's income bracket
Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton University, Farlex Inc.
References in periodicals archive ?
New Hampshire has already decoupled itself from the federal tax code when it comes to the 179A business deduction, but the state has always been behind the federal government in that area, and just when it was about to catch up, the federal government stepped up its game.
(See Trusted advice.) Then, you would get cash back without having to report taxable income, and the company would get a business deduction.
> Your subcontractor works out of their own storefront location or home office that is used regularly and exclusively for the business and is eligible for an IRS business deduction. (You need to visit his or her place of business and make sure.)
According to that publication, persons with disabilities can take a business deduction for expenses that are necessary for them to be able to work.
A: The deduction is not a business deduction used to reduce profits subject to tax; it does not reduce net earnings for self-employment tax purposes.
The only business deduction specifically set for elimination is one that allows U.S.
Effective in 2015, Ohio enhanced its already favorable small business deduction (SBD) available to individual business owners.
I want to know which companies are affected by this requirement and whether the expenditure would be allowed as a business deduction.
Schultz, CPA, PC a Wichita Falls, TX CPA firm stated that among these expiring tax breaks are, the above the line teacher deduction, the state sales tax deduction, research and development credit, the necessary section 179 business deduction that allows small business to more rapidly deduct capital expenditures, tax credits for renewable energy, and many others.
(-) Phasing out the small business deduction and preferential income tax rate for credit unions.
income tax system is based on net, not gross, income, I believe that in thinking about any particular business deduction, observers tend to adopt a pre-deduction, gross income baseline.

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