Tax-deduction



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.

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    [taks-di-furd] /ˈtæks dɪˈfɜrd/ adjective 1. noting or providing income that is not taxed until a later time.



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