Deduction

Deduction,

Definition of Deduction:

  1. Accounting: Business expenses or losses which are legally permitted to be subtracted from the gross revenue of a firm in computing its taxable income.

  2. Logic: See deductive reasoning.

  3. The action of deducting or subtracting something.

  4. The inference of particular instances by reference to a general law or principle.

  5. Taxation: Fixed amount or percentage permitted by taxation authorities that a tax payer can subtract from his or her adjusted gross income to arrive at the taxable income.

Synonyms of Deduction

Baconian method, A fortiori reasoning, A posteriori reasoning, A priori reasoning, Abatement, Ablation, Abrasion, Abridgment, Abstraction, Accord, Addition, Adjunct, Affairs, Affiliation, Affinity, Agio, Alleviation, Alliance, Allowance, Analysis, Approximation, Assemblage, Association, Attenuation, Bank discount, Bond, Breakage, Cash discount, Chain discount, Charge-off, Closeness, Cogitation, Combination, Concession, Conclusion, Connectedness, Connection, Consequence, Consequent, Consideration, Contemplation, Contiguity, Contraction, Contrariety, Corollary, Credit, Cut, Dampening, Damping, Dealings, Decrease, Decrement, Decrescence, Deductive reasoning, Deflation, Deliberation, Demonstration, Depreciation, Depression, Derivation, Diminishment, Diminution, Discount, Discourse, Discourse of reason, Discursive reason, Disjunction, Dockage, Drawback, Dying, Dying off, Epagoge, Erosion, Extenuation, Fade-out, Filiation, Finding, Generalization, Homology, Hypothesis and verification, Illation, Induction, Inductive reasoning, Inference, Intercourse, Intimacy, Judgment, Junction, Kickback, Languishment, Lessening, Letup, Liaison, Link, Linkage, Linking, Logical thought, Lowering, Meditation, Miniaturization, Minus, Mitigation, Musing, Mutual attraction, Nearness, Particularization, Penalty, Penalty clause, Percentage, Philosophical induction, Philosophy, Pondering, Premium, Price reduction, Price-cut, Proof, Propinquity, Proximity, Purification, Rapport, Ratiocination, Rationalism, Rationality, Rationalization, Rationalizing, Reason, Reasonableness, Reasoning, Rebate, Rebatement, Reduction, Refinement, Reflection, Refund, Relatedness, Relation, Relations, Relationship, Relaxation, Removal, Result, Rollback, Rumination, Sagging, Salvage, Scaling down, Sequitur, Setoff, Similarity, Simplicity, Sophistry, Specious reasoning, Speculation, Subduction, Sublation, Subtraction, Sweet reason, Syllogism, Syllogistic reasoning, Sympathy, Synthesis, Takeoff, Taking away, Tare, Thinking, Tie, Tie-in, Time discount, Trade discount, Tret, Underselling, Union, Weakening, Withdrawal, Write-off, Conclusion, Inference, Supposition, Hypothesis, Thesis, Assumption, Presumption, Suspicion, Conviction, Belief, Subtraction, Taking away, Taking off, Withdrawal, Abstraction, Removal, Debit, Docking, Discounting

How to use Deduction in a sentence?

  1. The dividend will be paid without deduction of tax.
  2. Mitzi was relieved to hear all employees at Flotsam & Jetsam would be receiving health coverage, but miffed when told it would result in yet another deduction from her weekly take home pay.
  3. I was doing my taxes and realized I have spent money in charitable ways so I decided to use a deduction .
  4. When the warehouse was flooded, and all the goods there lost, the company was able to take a deduction in their taxes for the cost of the goods lost.
  5. The detective must uncover the murderer by deduction from facts.

Meaning of Deduction & Deduction Definition

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Deduction,

Deduction Definition:

Deductions are expenses that can be deducted from a person's or spouse's gross income to reduce the amount of income tax paid.

  • Deductions are expenses that can be deducted from a person's or spouse's gross income to reduce the total amount of their taxable income.
  • Many taxpayers who benefit from standard deductions only need to fill out Form 1040 and some additional plans.
  • Taxpayers must use Form 1040, Appendix A, when listing withholding tax details, and list all permissible holdings.
  • The default cut for 2019 and 2020 is almost double that of the previous competition.

Part of the loss that is not paid as compensation and is borne by the insured. If the amount of loss exceeds the deduction, the insurer pays the difference.

Meaning of Deduction: The amount withheld from your taxable income for certain expenses.

Meanings of Deduction

  1. The act of reducing or diminishing something.

  2. Outcome of individual cases with respect to general rules or principles

Sentences of Deduction

  1. Profits are paid without holding tax

  2. The detective must find the killer by drawing conclusions

Deduction,

What is The Definition of Deduction?

  1. Deductions are expenses that can be deducted from an individual or couple's income to reduce the amount of income tax payable.

    • Deductions are expenses that can be deducted from a person's or spouse's income to reduce their taxable income.
    • Many taxpayers who benefit from standard deductions only need to fill out Form 1040 and some additional plans.
    • Taxpayers giving details of withholding tax should use Form 1040 in Appendix A and list all their holdings.
    • The default cut-offs for 2019 and 2020 are almost double the above figures.

Synonyms of Deduction

results, findings, knocking off

Deduction,

Deduction Definition:

Deduction definition is: Lea Uradu, JD University of Maryland School of Law graduate, Maryland Registered Financial Council, State Certified Notary Public, VITA Certified Financial Council, IRS Annual Reporting Season Participant, Tax Writer, and Founder of Tax Resolution Service LAW Tax ۔ Lea has worked with many federal, private and international tax clients.

  • Deductions are expenses that can be deducted from taxable income to reduce the amount owed.
  • Most taxpayers who benefit from standard deductions only need a completed Form 1040.
  • Taxpayers who provide details of holding tax should use Form 1040 in Appendix A for a list of all their holding taxes.
  • The standard deductions for fiscal years 2020 and 2021 are almost double the pages of the Taxes and Employment Reduction Act.

Meanings of Deduction

  1. Eliminate a particular case by referring to general law or principle.

Sentences of Deduction

  1. Dividends are paid without holding tax.