Deduction

Business / Debt / Deduction: An expense subtracted from adjusted gross income when calculating taxable income, such as for state and local taxes paid, charitable gifts, and certain types of interest payments.
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Other Words for Deduction

Deduction Verb Synonyms: subtraction, diminution, decrease, reduction, withdrawal, removal, abstraction
Deduction Noun Synonyms: conclusion, inference, finding, reasoning, result
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Deductions (Food Stamps)

Business / Agriculture / Deductions (Food Stamps): When calculating a household’s monthly food stamp benefit, food stamp rules require calculation of its net income, with lower net income amounts (larger deductions) producing higher food stamp benef MORE

Payroll Deduction

Business / Accounting / Payroll Deduction: An amount subtracted from a paycheck as the government requires or the employee requests. Mandatory deductions include various taxes. Voluntary deductions include loan payments or deposits into saving MORE

Standard Deduction

Business / Finance / Standard Deduction: The method of calculating cost of sales that compares the amounts of materials, direct labor and overhead projected in the Cost of Sales assumption (the standard costs) to expenses allocated to the Pr MORE

Tax Deduction

Business / Accounting / Tax Deduction: An expense that a taxpayer can subtract from taxable income. Examples include deductions for home mortgage interest and for charitable gifts. (See Tax Credit, Tax Exemption.) Tax Deferred Investments MORE

Mortgage Interest Deduction

Business / Finance / Mortgage Interest Deduction: A federal tax deduction for interest paid on a mortgage used to acquire, construct, or improve a residence. MORE

Net-After Deductions

Business / Debt / Net-After Deductions: An amount of money e.g. income you take home after income tax, national insurance contributions, payments towards a pension scheme or any other deductions have been deducted, usually by your employer MORE