Deduction

/dɪdˈʌkʃən/

/dɪˈdəkʃən/

Deduction

the action or process of taking an amount away from a total; the amount taken away in such process

antonyms : addition

an amount or percentage deducted

synonyms : discount

a reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer's income bracket

the process of reasoning from general principles or premises to a specific conclusion

something that is inferred (deduced or entailed or implied)

synonyms : entailment

the act of reducing the selling price of merchandise

synonyms : discount

Examples

1. The Biden administration may be stealing a march by enhancing its own existing models of restricting foreign deductions.

2. However, 30 states do offer deductions on state income tax.

3. The deduction theorem.

4. A deduction is different than a tax credit.