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Meaning of TAX DEDUCTION

Pronunciation:  taks di'dukshun

 
WordNet Dictionary
 
 Definition: 
[n]  a reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer's income bracket
 
 Synonyms: deduction
 
 See Also: business deduction, decrease, diminution, reduction, step-down, tax benefit, tax break

 

 

 

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