deduction


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Related to deduction: tax deduction

deduction

 [de-duk´shun]
reasoning in which the conclusion follows necessarily from the premises; reasoning from the general to the particular.

de·duc·tion

(dē-dŭk'shŭn),
The logical derivation of a conclusion from certain premises. The conclusion will be true if the premises are true and the deductive argument is valid. Compare: induction (9).

deduction

Etymology: L, deducere, to lead
a system of reasoning that leads from a known principle to an unknown, or from the general to the specific. Deductive reasoning is used to test diagnostic hypotheses.

de·duc·tion

(dĕ-dŭk'shŭn)
The logical derivation of a conclusion based on certain premises. The conclusion will be true if the premises are true and the deductive argument is valid.
Compare: induction (9)
References in periodicals archive ?
Included in it was new IRC section 62(a)(20) which provides an above-the-line deduction for legal fees and court costs incurred in connection with discrimination awards.
It is expected that the Secretary, in consultation with affected charities, will exercise assiduously the authority to disallow a deduction for some items of low value, consistent with the goals of improving tax administration and ensure that donated clothing and households items are of meaningful use to charitable organizations.
lowered the ammout of federal tax withheld from their workers' paychecks, reflecting lower tax rates for most people and a larger standard deduction for married couples.
This means that the value of the deduction depends on the taxpayer's income.
50) AIAM Comments, supra note 49; "Attorney Seeks Clarity in Manufacturing Deduction Guidance," 2005 TNT 67-13 (March 31, 2005) (comments of Alston & Bird LLP).
Your accountant will be of much greater help, and much greater value, if you first go through these 422 deductions before seeing the accountant.
Currently, the deduction is based on the fair rental value of accommodation, in recognition that a minister's house is often used for pastoral work.
26 /PRNewswire/ -- Any attempt to limit the mortgage interest deduction and eliminate property tax deductions would undercut the economic recovery, raise far less revenue than anticipated and discriminate against home owners living in high cost housing markets, according to the National Association of Home Builders.
The homeowner deduction is a government subsidy that goes primarily to the affluent.
More Taxpayers Could Take This Deduction If They Had Proper Backup.
Those sites offer federal and state guidelines for the deduction.