tax deduction

Definition of "tax deduction"
  1. A reduction in the income that can be taxed, often due to personal or business expenses
How to use "tax deduction" in a sentence
  1. The cost of his home office was a tax deduction that decreased his taxable income.
  2. She was able to claim a tax deduction for her charitable donations.
  3. They utilized tax deductions to lessen their business's taxable income.

Provide Feedback
Browse Our Legal Dictionary
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z