business deduction

Definition of "business deduction"
  1. A tax reduction that can be claimed for costs or losses tied to activities conducted for business purposes or profit-earning intentions
How to use "business deduction" in a sentence
  1. The accountant advised taking full advantage of the business deduction options to minimize tax liabilities.
  2. The increased costs of supplies can be considered a business deduction, reducing the company's taxable income.
  3. To justify the business deduction on her tax return, she kept detailed records of all her expenses related to her freelance work.

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