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
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