tax break definition
A special tax benefit given to promote specific economic or social objectives. For example, the U.S. government, having decided that individual home ownership is a boon to the economy, allows interest on a home mortgage to be subtracted, in whole or in part, from one’s taxable income. The resulting lower taxation for homeowners constitutes a tax break.
noun 1. a document issued to the purchaser of property sold for unpaid taxes attesting to the holder’s right to eventual receipt of the title deed.
noun 1. a city in Guerrero state, S Mexico: silver mining.
[taks-di-duhk-tuh-buh l] /ˈtæks dɪˌdʌk tə bəl/ adjective 1. noting an item the value or cost of which is deductible from the gross amount on which a tax is calculated. tax-deductible adjective 1. (of an expense, loss, etc) legally deductible from income or wealth before tax assessment
noun 1. an expenditure that is deducted from taxable income. tax deduction definition An expense, such as a charitable contribution, that can be deducted from one’s taxable income. Unlike a tax shelter, a tax deduction does not necessarily take the form of an investment.