Share this site with del.icio.us Share this site with furl Share this site with stumbleupon Share this site with google Add this site to Yahoo Bookmarks Click here to add us to your favorites Subscribe to our Feed





tax deduction

Definition

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. Deductions typically include allowances for home mortgage payment, home repair expenses, and higher study costs, etc. Not to be confused with deductible.

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z