Test
Your
Word IQ! Play Now

tax deduction

noun

an expenditure that is deducted from taxable income.

QUIZZES

Can You Remember Your Favorite Words Of The Day From March?
Even if you’re a habitué of Word of the Day, you haven’t seen our March words in these ways! Challenge yourself to our comprehensive quiz!
Question 1 of 15
What does "habitué" mean?
a person who is especially competent to pass critical judgments in an art, particularly one of the fine arts, or in matters of taste.
a frequent or habitual visitor to a place.
a lazy person who stays in bed long after the usual time for arising.
TAKE THE QUIZ TO FIND OUT

Words nearby tax deduction

tax, tax avoidance, tax break, tax certificate, tax credit, tax deduction, tax deed, tax disc, tax evasion, tax exile, tax expenditure
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2020

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.

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.