deduction Meaning and Definition

1. n. the act of subtracting (removing a part from the whole)

2. n. the act of reducing the selling price of merchandise

3. n. reasoning from the general to the particular (or from cause to effect)

4. n. something that is inferred (deduced or entailed or implied)

5. n. an amount or percentage deducted

6. n. a reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer's income bracket