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deduction Definition

de·duc·tion (dē duk′s̸hən, di-)

noun

  1. a deducting or being deducted; subtraction
  2. a sum or amount deducted or allowed to be deducted
  3. Logic the act or process of deducing; reasoning from the general to the specific, or from premises to a logically valid conclusion; also, a conclusion reached by such reasoning

Etymology: ME deduccioun < L deductio

deduction Related Forms
de·duc′·tive adjective de·duc′·tively adverb
deduction Synonyms

deduction

n.

  1. The act of deducing

    inferring, concluding, reasoning; see thought 1.

  2. A conclusion

    result, answer, inference, corollary; see judgment 3, opinion 1.

  3. A reduction

    subtraction, abatement, decrease, write-off; see discount, reduction 1.

deduction Finance Definition
An expense that is subtracted from taxable income in order to reduce the amount of income tax that has to be paid. Charitable donations and business expenses, such as entertainment expenses and office supplies, are examples of items that can be deducted.
deduction Law Definition

n

A monetary amount that a taxpayer is permitted by law or regulation to subtract from income when determining income tax.
itemized deduction
An expense, such as state and local taxes paid, or annual interest on a mortgage, that is listed on a tax return as a deduction. Includes charitable deductions.
standard deduction
A dollar amount that a taxpayer is permitted by law to subtract from taxable income in lieu of listing itemized deductions.
deduction Usage Examples

Converse of object

  • itemize: In certain cases, we recommend making itemized deductions which can reduce your taxable income.
  • calculate: The way that repayments of such loans are treated in calculating a deduction depends on the date that the CTAEO was made.
  • impose: CSA then imposed a deduction from earnings order which secured payment of child support maintenance.

Adjective modifier

  • non-dependant: See the section called ' Are there any cases where no non-dependant deduction is made?
  • unlawful: They are also protected from unlawful deductions from their salary.
  • allowable: These are allowable tax deductions provided there is no element of improvement in the repair.
  • non-dependent: Maximum benefit is 100 % of the eligible rent ( less any non-dependent deductions ).
  • logical: He said: " The only skill involved in sudoku is logical deduction.
  • unauthorized: Yes The law protects individuals from having unauthorized deductions made from their wages, including complete non-payment.

Modifies a noun

  • theorem: But given the previous point, it looks like, on the global version, this leads to a failure of the deduction theorem.

Noun used with modifier

  • payroll: Saving is possible through by coming into the office or a service point, through payroll deduction, or standing order.
  • home-office: Bill the title for example many labor laws recently the home-office deduction.
  • tax: The Federal tax deduction will turn into a tax credit starting Jan 1, 2006.
  • salary: An alternative method to salary deduction was set up to allow partners to make a pledge.
  • percent: Coverage rather they at least once a percent deduction health services research.

Preposition: of

  • tax: Such accounts pay interest without deduction of tax; often a key benefit to seniors.
  • wage: Deduction of wages for those working on a commission basis Fairness at Work White Paper: family friendly policies Casual about employe status?
  • expense: Any refund will be subject to the deduction of reasonable expenses.

Preposition: from

  • wage: The Employment Appeal Tribunal looked at whether not being paid on time amounted to a deduction from wages.
  • salary: Other Perks: Livery for own horse available for small deduction from salary.
deduction Quotes

I must begin with a good body of facts and not from a principle (in which I always suspect some fallacy) and then as much deduction as you please.

—Darwin, Charles Robert

The grand aim of all science is to cover the greatest number of empirical facts by logical deduction from the smallest number of hypotheses or axioms.

—Einstein, Albert

It is not a correct deduction from the Principles of Economics that enlightened self-interest always operates in the public interest† Experience does not show that individuals when they make up a social unit are always less clear-sighted than when they act separately.

—Keynes (of Tilton),John Maynard, 1st Baron

Browse dictionary entries near deduction

  1. ‹ deductible
  2. ‹ deduct
  3. ‹ deducible
  4. ‹ deduce
  5. ‹ dedifferentiation
  6. ‹ dedicatory
  7. ‹ dedication
  8. ‹ dedicated circuit
  9. ‹ dedicated
  10. ‹ dedicate
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