deduct

verb

de·duct di-ˈdəkt

dē-

deducted; deducting; deducts

transitive verb

: to take away (an amount) from a total : subtract

: deduce, infer

Example Sentences

You can deduct up to $500 for money given to charity. after deducting taxes, what's left is your net pay for the week

Recent Examples on the Web Germany also allows taxpayers to deduct up to twenty per cent of their taxable income for charitable contributions, including those to opera houses, and to carry excess contributions into future tax years.

The New Yorker, 25 July 2022 With some exceptions, most Democrats support the concept behind the measure, which allows corporations to immediately deduct their research costs instead of spreading them out over five years.

Washington Post, 10 May 2022 Others employ the state’s Local Debt Recovery Program, which allows the comptroller’s office to deduct money for unpaid debts from individuals’ tax refunds and payroll checks.

Jennifer Smith Richards, ProPublica, 28 Apr. 2022 Among them is a deduction of intangible drilling costs, which allows oil and gas companies to immediately deduct some expenses, such as labor, site preparation and repairs.

Erik Wasson, Bloomberg.com, 28 Mar. 2022 The state mortgage interest deduction, mirroring the version for federal income taxes, allows homeowners to deduct from their taxable income interest payments on mortgages up to $750,000, including mortgages on vacation homes.

oregonlive, 16 Mar. 2022 The federal solar tax credit allows companies to deduct up to 26% of the cost of adding a solar panel system to their buildings from their federal taxes.

Jayson Waller, Forbes, 31 Jan. 2022 The tax code provision — which was renewed last year as part of the CARES Act — allows investors to deduct their investment in a film project, up to $15 million, at the time the money is spent.

Gene Maddaus, Variety, 26 Oct. 2021 Stomberg and two colleagues studied what happened to CEO pay after a 2017 change to federal law reduced companies ability to deduct executive compensation from their taxable income.

oregonlive, 14 Aug. 2022 See More

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deduct

verb

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deduct

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