Deduction

Legal Definition and Related Resources of Deduction

Meaning of Deduction

An item subtracted from gross income to arrive at adjusted gross income or taxable income . See B. C. Cook & Son- s.Inc. v C.I.R., (C.A.5)584 F.2d53.

Meaning of Deduction in the United States Tax System

Personal or business expenses incurred that reduce the income subject to tax.(Definition provided by the Massachusetts Department of Revenue).

Popular U.S. Tax Words

Synonyms of Deduction

(Conclusion), noun

  • assumption
  • calculation
  • divination
  • hypothesis
  • illation
  • implication
  • logical process
  • logical sequence
  • opinion
  • postulate
  • postulation
  • ratiocination
  • rationalization
  • reasoned judgment
  • supposal
  • supposition
  • surmise
  • theory
  • thesis

(Diminution), noun

  • abatement
  • abridgment
  • attenuation
  • cut
  • decline
  • decrease
  • decrement
  • decrescence
  • deductio
  • deminutio
  • discount
  • dwindling
  • elimination
  • lessening
  • lowering
  • making less
  • minimization
  • reduction
  • removal
  • shortening
  • shrinkage
  • subduction
  • subtraction
  • withdrawal Associated Concepts: allowable deduction
  • business deductions
  • deduction directed by law
  • deduction from purchase price
  • deduction of cost
  • deduction of expense
  • deductions from account
  • deductions from salary
  • income tax deductions
  • marital deduction
  • special deduction

Related Entries of Deduction in the Encyclopedia of Law Project

Browse or run a search for Deduction in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.

Deduction in Historical Law

You might be interested in the historical meaning of this term. Browse or search for Deduction in Historical Law in the Encyclopedia of Law.

Legal Abbreviations and Acronyms

Search for legal acronyms and/or abbreviations containing Deduction in the Legal Abbreviations and Acronyms Dictionary.

Related Legal Terms

You might be also interested in these legal terms:

Mentioned in these terms

Allowance, Cash Discount, Cohan Principle, Corollary, Discount, Gross, Implied, Inference, Rate Of Return, Rebate.

See also

Tax Deduction in the American legal Encyclopedia

Deduction in Law Enforcement

Main Entry: Law Enforcement in the Legal Dictionary. This section provides, in the context of Law Enforcement, a partial definition of deduction.

Resources

See Also

  • Drawback
  • Reprises
  • Set-Off

Resources

See Also

  • Law Enforcement Officer
  • Policeman
  • Law Enforcement Agency

Further Reading


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