Tax deduction
This article is about the deduction of expenses for the purpose of calculating taxable income. For tax deducted at source, see Withholding tax.
A tax deduction is an amount deducted from taxable income, usually based on expenses such as those incurred to produce additional income. Tax deductions are a form of tax incentives, along with exemptions and tax credits. The difference between deductions, exemptions, and credits is that deductions and exemptions both reduce taxable income, while credits reduce tax.
Hidden categories:
- Articles with short description
- Short description matches Wikidata
- Wikipedia indefinitely move-protected pages
- Articles with limited geographic scope from October 2015
- Pages using sidebar with the child parameter
This page is issued from Wikipedia. The text is available under Creative Commons Attribution-Share Alike 4.0 unless otherwise noted. Additional terms may apply for the media files.