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. |
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Synonyms | tax write-off, deduction |
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Narrower | business deduction | tax write-off for expenses of doing business |
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exemption | A deduction allowed to a taxpayer because of his status (having certain dependents or being blind or being over 65 etc.) |
tax benefit, tax break | A tax deduction that is granted in order to encourage a particular type of commercial activity |
Broader | write-off, write-down | (accounting) reduction in the book value of an asset |
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Spanish | deducción, desgravación |
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Catalan | deducció, desgravació |
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