1. a reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer's income bracket; [syn: tax write-off, tax deduction, deduction]
WordNet (r) 3.0 (2006):
tax deduction
n 1: a reduction in the gross amount on which a tax is
calculated; reduces taxes by the percentage fixed for the
taxpayer's income bracket [syn: tax write-off, tax
deduction, deduction]