A deduction is an expense that can be subtracted from taxable income in order to reduce the amount owed. Most taxpayers who take the standard deduction only need to file Form 1040.

deduction. noun. /dɪˈdʌkʃn/. /dɪˈdʌkʃn/. jump to other results. [uncountable, countable] the process of using information you have in order to understand a particular situation or to find the answer to a problem. He arrived at the solution by a simple process of deduction.

Definition of DEDUCTION (noun): amount or number taken from total; something that you know from evidence What does deductions mean? Plural form of deduction. (noun) deduction n noun: Refers to person, place, thing, quality, etc. (figuring out) استنباط، استدلال : George is skilled in critical thinking and deduction. deduction n noun: Refers to person, place, thing, quality, etc.

an expenditure which an income tax payer may subtract from gross (total) income to determine taxable income. This is not the same as an exemption which is for one's marital status, age over 65, blindness and number of dependents (e.g. children), which, added together, reduce the tax owed. Deductible definition, capable of being deducted. See more. If you get a tax deduction it means you get to reduce the amount of your income that is subject to tax. If something's on sale, you might get a percentage deduction from the original price.

Standard Deduction is a fixed amount allowed by IRS to the taxpayers. The government sets the amount of standard deduction amount every year for each filing status. These amounts are different according to their filing status. Single Filers – $ 6,300. Married filing jointly – $ 12,600. Head of House Hold – $ 9,300.

Learn more. Cambridge Dictionary +Plus A deduction is an expense that can be subtracted from taxable income in order to reduce the amount owed.

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your gross income (before tax and National Insurance deductions). A tax deduction is a deduction that lowers a person or organization's tax liability by lowering their taxable income. Deductions are typically expenses that the taxpayer incurs during the year The standard deduction is the portion of income not subject to tax that can be used to reduce your tax bill. You can choose between a standard deduction and itemized deductions. The amount of your deduct subtract; take away from: I deduct my expenses. Not to be confused with: deduce – infer; draw a logical conclusion: I deduce that you are in agreement.

All we can do is make deductions from the available facts. SMART Vocabulary: related words and phrases. deduction n noun: Refers to person, place, thing, quality, etc.
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Deduction vs. Induction (Deductive/Inductive Reasoning): Definition/Meaning, Explanation & Examples - YouTube. Deduction vs. Induction (Deductive/Inductive Reasoning): Definition/Meaning From Longman Business Dictionary. deduction.

(mathematics: subtraction) طرح : The second-grade class is learning deduction in their math unit. deduction definition: 1. the process of reaching a decision or answer by thinking about the known facts, or the decision…. Learn more.
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Definition of deduction in the AudioEnglish.org Dictionary. Meaning of deduction.