noun
- an expenditure that is deducted from taxable income.
An expense, such as a charitable contribution, that can be deducted from one’s taxable income. Unlike a tax shelter, a tax deduction does not necessarily take the form of an investment.
noun
An expense, such as a charitable contribution, that can be deducted from one’s taxable income. Unlike a tax shelter, a tax deduction does not necessarily take the form of an investment.