tax deduction
Frequency: 8.525.5 per million words
An amount that can be subtracted from your income before calculating the tax you owe.
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Examples (10)
- Donating to a registered charity allows you to claim a tax deduction.
- Many freelancers forget to claim the home office tax deduction.
- An accountant helped me find every possible tax deduction I was entitled to.
- The standard tax deduction has increased this year, benefiting many households.
- Is the interest on student loans eligible for a tax deduction?
- Keep your receipts for business expenses to maximize your tax deductions.
- The government introduced a new tax deduction to encourage green energy investments.
- Understanding what qualifies as a legitimate tax deduction can be complex.
- He was disappointed to learn that his renovation costs did not qualify for a tax deduction.
- A larger tax deduction directly reduces your overall taxable income.