deduction
Definition 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.
Definition 2
Logic: See deductive reasoning.
Definition 3
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.
Mentioned in these definitions
Mentioned in these terms
Popular 'Accounting & Auditing' Terms
deduction in the news
Loading...
This content can be found on the following page:
http://www.businessdictionary.com/definition/deduction.html
