HomeDefinitionsCompareDebt Tax deductionThe financial definition for Tax deduction:An expense that a taxpayer is allowed to deduct from taxable income. Similar MatchesDeductionDeductionAn expense that is allowable as a reduction of gross taxable income by the IRS e.g., charity donations. Dividends received deductionDividends received deductionA corporate tax deduction on income allowed by company A that is in ownership of shares of company B and receives dividends on the shares of company B. Interest deductionInterest deductionAn interest expense, such as interest on a margin account, that is allowed as a deduction for tax purposes. Further SuggestionsItemized deductionMarital deduction Mortgage interest deduction Standard deduction Unlimited marital deduction Click to compare definitions of Tax deduction Click to view definitions beginning ta |