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
- logical process
- logical sequence
- reasoned judgment
- making less
- 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
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Deduction in Historical Law
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Legal Abbreviations and Acronyms
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Related Legal Terms
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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.
- Law Enforcement Officer
- Law Enforcement Agency