tax deduction
an expenditure that is deducted from taxable income.
Words Nearby tax deduction
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2024
How to use tax deduction in a sentence
Amortization allows sports team owners to take nearly all of the team purchase price as a tax deduction.
The Billionaire Playbook: How Sports Owners Use Their Teams to Avoid Millions in Taxes | by Robert Faturechi, Justin Elliott and Ellis Simani | July 8, 2021 | ProPublicaMany of the richest create foundations for philanthropic giving, which provide large charitable tax deductions during their lifetimes and bypass the estate tax when they die.
The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax | by Jesse Eisinger, Jeff Ernsthausen and Paul Kiel | June 8, 2021 | ProPublicaThis achieves the twin feat of avoiding any tax on the stock’s growth while getting tax deductions for the full value.
You May Be Paying a Higher Tax Rate Than a Billionaire | by Paul Kiel, Jeff Ernsthausen and Jesse Eisinger | June 8, 2021 | ProPublicaThe most-used tax deduction is the standard deduction, which is a no-questions-asked amount that you can subtract from your income, lowering the amount of income on which you have to pay taxes.
What Are 2020’s Tax Brackets, and Will I Get Audited? | by Kristen Doerer for ProPublica and Karim Doumar | March 22, 2021 | ProPublicaMeanwhile, Senate Democrats are lobbying him to repeal the cap on state and local tax deductions — which would entail a tax cut that mostly benefits the top 1 percent.
Republicans are laying a ‘Trojan horse’ trap on infrastructure | Catherine Rampell | March 18, 2021 | Washington Post
The devil was predictably in the details, with a surcharge on the rich and a call to end the state and local tax deduction.
RIP: Obama’s Grand Bargain With the GOP on Entitlements | John Avlon | March 2, 2014 | THE DAILY BEASTApparently, not much has really changed since Bill took a $2 tax deduction for each pair of underwear that he donated to charity.
The Clintons Can’t Shake Their Reputation for Ethical Shadiness | Lloyd Green | September 19, 2013 | THE DAILY BEASTTo my mind, this is why we should get rid of the corporate income tax--and the charitable tax deduction as well.
One reason is that people might decide that it's not worth buying corporate jets if their annual tax deduction is smaller.
"Tax Breaks for Corporate Jets": The Non-Issue at the Heart of the Presidential Agenda | Megan McArdle | April 10, 2013 | THE DAILY BEASTWork to end the state and local tax deduction, which acts as another form of welfare for high tax locales.
First, I propose a standard tax deduction for health insurance that will be like the standard tax deduction for dependents.
State of the Union Addresses of George W. Bush | George W. BushFirst, a tax deduction for all education and training after high school.
We should support Americans who tithe and contribute to charities, but don't earn enough to claim a tax deduction for it.
Cultural definitions for 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.
The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
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