deduction

(redirected from deducts)
Also found in: Dictionary, Thesaurus, Legal, Financial, Idioms, Encyclopedia.
Related to deducts: deduces

deduction

 [de-duk´shun]
reasoning in which the conclusion follows necessarily from the premises; reasoning from the general to the particular.
Miller-Keane Encyclopedia and Dictionary of Medicine, Nursing, and Allied Health, Seventh Edition. © 2003 by Saunders, an imprint of Elsevier, Inc. All rights reserved.

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).
Farlex Partner Medical Dictionary © Farlex 2012

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)
Medical Dictionary for the Health Professions and Nursing © Farlex 2012
References in periodicals archive ?
IRS Field Attorney Advice 20061701F, (April 28, 2006), which may not be used or cited as precedent, considered whether accrual basis taxpayers can deduct employment taxes on vacation/bonus pay accrued at year-end, but not paid until the next year.
To put this in perspective, consider expensing, where the entire purchase price is immediately deducted. With expensing, the government essentially becomes a partner.
On his return, J deducts his attorneys' fees under Sec.
If a taxpayer uses a timeshare unit and it is not rented out (or held out for rent), he or she could deduct property taxes on Schedule A, under Sec.
According to revenue procedure 94-27, effective for taxable years beginning after December 31, 1990, home buyers may deduct mortgage points currently even if the points are paid by the seller of the property--as long as they reduce the property's cost basis by the amount of the seller-paid points.
If the customer does not use the voucher, T recognizes as earned revenue the previously deducted estimated incremental cost (e.g., the percentage of the face value) on expiration of the voucher (one year from issuance), and includes that amount in gross income for Federal income tax purposes.
Recently, in Ingram Industries, Inc., TC Memo 2000-323, the Tax Court held that a towboat operator could currently deduct costs associated with periodic or cyclical service and maintenance of its towboat engines, in spite of the IRS's argument that its engine maintenance procedures were equivalent to overhauls.
On an amended Form 5500, Annual Return/Report of Employee Benefit Plans (with 100 or more participants), and amended Schedule B, the employer reported the $41,848,000 as contributions for the plan year ended June 30,1984, and deducted the entire $117,291,000 on its 1984 return.
351 exchange could deduct payments for a vacation pay liability assumed in the exchange.
In Boyd Gaming Corp.,(22) the Tax Court ruled that a casino can deduct 100% of the cost of meals provided free to employees if such meals meet the de minimis fringe benefit exception of Sec.
Generally, a partner who does not materially participate in a partnership's trade or business activity is considered to be passive with respect to the activity, thereby potentially limiting his ability to deduct losses from the activity.
The issue was whether Ford could deduct the full amount of future payments under 1980 settlement agreements for tort liabilities in the tax year the agreements were executed.