What is the meaning of tax deduction?

noun

  • A reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer's income bracket.
WordNet 3.0 © 2006 by Princeton University
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APAWordNet. (2010). tax deduction. Retrieved September 20, 2026, from http://smartdefine.org/tax_deduction/definitions/1315251
ChicagoWordNet. 2010. "tax deduction" http://smartdefine.org/tax_deduction/definitions/1315251 (accessed September 20, 2026).
HarvardWordNet 2010, tax deduction, Smart Define, viewed 20 September, 2026, <http://smartdefine.org/tax_deduction/definitions/1315251>.
MLAWordNet. "tax deduction" 23 October 2010. Web. 20 September 2026. <http://smartdefine.org/tax_deduction/definitions/1315251>
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