tax deduction

noun
an expenditure that is deducted from taxable income.
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Based on the Random House Dictionary, © Random House, Inc. 2014.
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American Heritage
Cultural Dictionary

tax deduction definition


An expense, such as a charitable contribution, that can be deducted from one's taxable income. Unlike a tax shelter, a tax deduction does not necessarily take the form of an investment.

The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Example sentences
If you get your dog from a rescue that has non-profit status, then you can use
  that as a tax deduction.
The present admin is cutting off exploration by removing the tax deduction or
  preventing access to land or sea leases.
The trophy hunters get a tax deduction if they donate the animal to a
  non-profit.
First, it should extend the tax deduction on health insurance premiums for
  payroll tax purposes.
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