Definition of "tax deduction" []

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

WordNet. Princeton University. 2010.

Use "tax deduction" in a sentence

"The business-use percentage becomes an immediate tax deduction as an expense or through depreciation."
"By using this strategy, Bob created a $1,500-per-year tax deduction 50 weeks × $30 per week."
"You must use the straight-line method, which give you approximately half the tax deduction the first year of the MACRS method."

Words like "tax deduction"

business deduction

exemption

tax benefit

tax break

write-down write-off