allowable deduction

См. также в других словарях:

• deduction — de·duc·tion n 1: an amount allowed by tax laws to be subtracted from income in order to decrease the amount of income tax due see also internal revenue code in the important laws section compare credit, ex …   Law dictionary

• Deduction — Any item or expenditure subtracted from gross income to reduce the amount of income subject to tax. Also referred to as allowable deduction . For example, if you make $40,000 and you have a deduction for $1,000, then your taxable income is… …   Investment dictionary

• allowable — al‧low‧a‧ble [əˈlaʊəbl] adjective 1. acceptable according to the rules: • The government has cut by 35% this year s allowable catch of fish. 2. ACCOUNTING an allowable amount, cost, or expense does not need to be counted as part of income or… …   Financial and business terms

• deduction — An expense that is allowable as a reduction of gross taxable income by the IRS e.g., charity donations. Bloomberg Financial Dictionary * * * deduction de‧duc‧tion [dɪˈdʌkʆn] noun [countable, uncountable] the process of taking away an amount from …   Financial and business terms

• allowable — allowableness, n. allowably, adv. /euh low euh beuhl/, adj. 1. that may be allowed; legitimate; permissible: an allowable tax deduction. n. 2. something, as an action or amount, that is allowed. 3. Ecol. See allowable cut. [1350 1400; ME < MF… …   Universalium

• allowable — al•low•a•ble [[t]əˈlaʊ ə bəl[/t]] adj. 1) able to be allowed; permissible: an allowable tax deduction[/ex] 2) something that is allowed • Etymology: 1350–1400; ME < MF al•low′a•ble•ness, n. al•low′a•bly, adv …   From formal English to slang

• allowable — adjective 1. deductible according to the tax laws (Freq. 3) • Similar to: ↑deductible 2. that may be permitted especially as according to rule permissible behavior in school a permissible tax deduction • Syn: ↑permissible …   Useful english dictionary

• Section 179 depreciation deduction — Section 179 of the United States Internal Revenue Code (26 U.S.C. § 179), allows a taxpayer to elect to deduct the cost of certain types of property on their income taxes as an expense, rather than requiring the cost of the property to… …   Wikipedia

• Itemized deduction — Individual taxpayers in the United States are allowed a choice when preparing their Federal income tax returns. After computing their Adjusted gross income (AGI), taxpayers can itemize their deductions (from a list of allowable items) and… …   Wikipedia

• Above the line deduction — In the United States, an above the line deduction is a term used to describe those deductions which the Internal Revenue Service allows a taxpayer to subtract from his or her gross income. These deductions are set forth in Internal Revenue Code… …   Wikipedia

• Marital Deduction — A tax deduction that allows an individual to transfer some assets to his or her spouse tax free, creating a reduction in taxable income. A marital deduction is mainly used for the purposes of estates and gifts. The Internal Revenue Service has… …   Investment dictionary