take a deduction

Frequency: 6.03.5 per million words

To use or apply for a financial deduction on a tax return.

deductionVERB + deduction

Categories:

take

Examples (10)

  • My accountant advised me to take every possible business deduction.
  • If you work from home, you might be able to take a deduction for your home office expenses.
  • We took a significant deduction last year for our charitable donations.
  • Students can often take a deduction for tuition fees on their tax returns.
  • Next year, I plan to take the standard deduction instead of itemizing.
  • Taking a deduction for business travel requires careful record-keeping.
  • Be careful not to take a deduction you don't qualify for, as it could trigger an audit.
  • Did you remember to take the deduction for your new computer equipment?
  • You are only allowed to take a deduction of up to $5,000 for this expense.
  • By taking all eligible deductions, she significantly lowered her taxable income.