tax deduction

American  

noun

1. an expenditure that is deducted from taxable income.

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tax deduction Cultural  

1. 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.

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Example Sentences

See Examples For:

tax deduction

Earlier in our careers, we chose traditional IRAs because the tax deduction made the most sense at the time.

From MarketWatch ● Aug. 19, 2026

It’s after-tax dollars going in the account, and there’s no tax deduction.

From MarketWatch ● Aug. 14, 2026

In return, they get an immediate tax deduction.

From The Wall Street Journal ● May 1, 2026

Lack of planning and misconceptions around a new $6,000 senior tax deduction could lead to missed tax savings.

From Barron's ● Apr. 25, 2026

First, a tax deduction for all education and training after high school.

From State of the Union Address by William Jefferson Clinton