deduction

(redirected from Tax deductions)
Also found in: Dictionary, Thesaurus, Legal, Financial, Encyclopedia.

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 ?
Schumer warned that thousands of New Yorkers could face a tax hike from the cap on state and local deductions and pointed out the review of experts at firms like Price Waterhouse Cooper who say eliminating or reducing the state and local tax deduction would decrease home values in each of New Yorks congressional districts, placing pressure on state and local governments to deliver cuts to education or their local fire and police departments.
Personal spending-related income tax deductions will be applied to taxes owed instead of income, which will increase the tax burden of high income earners.
The poll makes it clear that how the issue of eliminating tax deductions is framed makes little difference in how Americans respond to the idea.
1992b, Income Tax Deductions for Losses as Insurance, American Economic Review, 82: 1013-1017.
However, the absolute book expense and tax deduction are not separately identified but subsumed in the various expense accounts used.
Our interviews disclosed virtual unanimity, though, that tax deductions are not the way to go in incentivizing Americans to forego Medicaid assistance and purchase long-term care insurance.
Private-sector members of the panel are calling for a cut in the maximum income tax rate of 37% as well as cutbacks in tax deductions, and the two bodies are expected to have consultations before unveiling the basic policy.
A few weeks later, he announced that he was ending tax deduction for bribes and this became law two years later.
An insured's financial-management group typically is elated when the analysis demonstrates the benefits of enhanced cash flows resulting from accelerated tax deductions.
Any experienced tax accountant will (or certainly should) know about every tax deduction listed in this book.
Virginia: Two Republican members of the House of Delegates plan to introduce legislation giving income tax deductions to parents who educate their children in religious, private or home schools.
For instance, the expanded flexibility for IRA tax deductions is beneficial, but lower-income families often don't have money to spare to fund an Individual Retirement Account, he said.