- v make a subtraction
- v retain and refrain from disbursing; of payments
- v reason by deduction; establish by deduction
- DEDUCT THIS! Itemizers can now deduct state and local sales tax instead of income tax--a boon for those in income-tax-free states like Alaska, Florida, Nevada, South Dakota, Texas .
- But in all but a few cases, teachers who go to summer school can deduct nothing.
- 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.
News & Articles
- 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.
June 12, 2013 - Forbes
- Can You Deduct Building Materials for New Home?
You can deduct taxes paid on building materials if you buy them directly, among other criteria.
June 11, 2013 - FOX Business
- 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.
June 10, 2013 - U.S.News & World Report LP via Yahoo! News
- Kay Bailey Hutchison in Forbes
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.
- President Bush in TIME
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."