Keyword Analysis & Research: deductions


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What does deduction stand for?

The noun DEDUCTION has 6 senses: 1. a reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer's income bracket Meaning: A reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer's income bracket Classified under:

What does deduct mean?

deduction(Noun) A process of reasoning that moves from the general to the specific, in which a conclusion follows necessarily from the premises presented, so that the conclusion cannot be false if the premises are true.

What are the most common deductions?

Some of the more common itemized deductions include: Home mortgage interest, State and local income taxes, Real estate taxes, and. Charitable contributions.

What are some examples of deductions?

Some examples of above-the-line deductions include: Alimony. Educator expenses. Job-related moving expenses. Penalties for early withdrawal of CDs and savings accounts. Qualified tuition and fees. Self-employed deductions for health insurance premiums. Half the Self-Employment Tax.


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