tax deduction
noun
an expenditure that is deducted from taxable income.
Words nearby tax deduction
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tax avoidance,
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tax certificate,
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tax deed,
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tax evasion,
tax exile,
tax expenditure
Cultural definitions for tax deduction
tax deduction
An expense, such as a charitable contribution, that can be deducted from one's taxable income. Unlike a tax shelter, a tax deduction does not necessarily take the form of an investment.