tax deduction
noun
an expenditure that is deducted from taxable income.
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Nearby words
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Dictionary.com Unabridged
Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019
Culture 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
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