Tax Deduction Definition

noun

A reduction in gross income in order to reduce one’s income tax liability. It is worth a percentage of what a tax credit is worth. See deduction. See also tax credit.

Webster's New World Law
Synonyms:

Tax Deduction Is Also Mentioned In

Find Similar Words

Find similar words to tax deduction using the buttons below.

Words Starting With

Words Ending With

Unscrambles

tax deduction