Tax deduction is an expense that governments allow you to subtract from your income before computing your income tax. People who don't take the standard deduction on federal income taxes can deduct the costs of mortgage interest and some loan points and property taxes.
Barry Goldsmith
| APA | Barry Goldsmith. (2010). tax deduction. Retrieved September 24, 2026, from http://smartdefine.org/tax_deduction/definitions/1164880 |
| Chicago | Barry Goldsmith. 2010. "tax deduction" http://smartdefine.org/tax_deduction/definitions/1164880 (accessed September 24, 2026). |
| Harvard | Barry Goldsmith 2010, tax deduction, Smart Define, viewed 24 September, 2026, <http://smartdefine.org/tax_deduction/definitions/1164880>. |
| MLA | Barry Goldsmith. "tax deduction" 21 October 2010. Web. 24 September 2026. <http://smartdefine.org/tax_deduction/definitions/1164880> |