tax deduction


  1. an expenditure that is deducted from taxable income.

tax deduction

  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

Amortization allows sports team owners to take nearly all of the team purchase price as a tax deduction.

Many 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.

This achieves the twin feat of avoiding any tax on the stock’s growth while getting tax deductions for the full value.

The 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.

Meanwhile, 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.

The devil was predictably in the details, with a surcharge on the rich and a call to end the state and local tax deduction.

Apparently, not much has really changed since Bill took a $2 tax deduction for each pair of underwear that he donated to charity.

To 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.

Work 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.

First, 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.





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