deduct deduct  /dɪ ˈdəkt/

Definition(s):

  1. (v) make a subtraction
  2. (v) retain and refrain from disbursing; of payments
  3. (v) reason by deduction; establish by deduction

Usage(s):

  1. But in all but a few cases, teachers who go to summer school can deduct nothing.
  2. The proprietor is permitted to deduct 27% of the gross income from an oil property in figuring his taxand he can keep doing that even after he has recovered his capital outlays.
  3. The acquirer can deduct from its taxes the full amount of the write-down.

News

  1. The World's 100 Highest-Paid Athletes

    Athletes from 11 sports and 23 countries made the cut for Forbes’ 2013 look at the world’s 100 highest-paid athletes. Our earnings figures include salaries, bonuses, prize money, appearance fees, as well as licensing and endorsement income for the 12 months between June 1, 2012 and June 1, 2013. We do not include investment income or deduct for taxes and agents’ fees.
    on June 12, 2013     Source: Forbes

  2. Can You Deduct Building Materials for New Home?

    You can deduct taxes paid on building materials if you buy them directly, among other criteria.
    on June 12, 2013     Source: FOX Business

  3. Writing Off Your Summer Vacation

    If you're lucky enough to get away this season, consider making vacation plans that will enable you to deduct some of your travel expenses. The only way to do this is to include certain activities in your trip.
    on June 10, 2013     Source: U.S.News & World Report LP via Yahoo! News

Quotes

  1. "You leave it up to the states to say you can't have an income level over 300% (of poverty), but you can deduct $20,000 for a housing allowance or you can deduct $15,000 for shelter or whatever," said Rep. Joe Barton, R-Texas. "So, what...
    on Oct 29, 2007 By: Joe Barton Source: USA Today

  2. "All Americans should be treated equally and given the opportunity to deduct their state taxes, regardless of how those levies are assessed," said GOP Sen. Kay Bailey Hutchison of Texas.
    on Dec 9, 2006 By: Kay Bailey Hutchison Source: Forbes

  3. "The current tax code encourages home ownership by allowing you to deduct the interest on your mortgage from your taxes," Bush said. "We can provide a similar incentive for you to buy health insurance."
    on Jan 20, 2007 By: President Bush Source: TIME

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