|
|
Interest deduction |
|
|
|
 Home Site Map Add Term Search About Us Contributors |
Interest deductionAn interest expense, such as interest on a margin account, that is allowed as a deduction for tax purposes.Interest deduction Similar MatchesDeductionDeductionIn the US, an expense allowed by the Internal Revenue Service which is deducted from adjusted gross income to establish taxable income. These include interest payments and state and local taxes. The equivalent term in the UK is 'tax allowance', and the main one is the 'personal allowance' of tax-free income which every individual is entitled to. Dividends received deductionDividends received deductionA corporate tax deduction on income allowed by company A that is in ownership of shares of company B and receives dividends on the shares of company B. DeductionDeductionAn expense that is allowable as a reduction of gross taxable income by the IRS e.g., charity donations. Standard deductionStandard deductionThe IRS-specified amount by which a taxpayer is entitled to reduce income an alternative to itemizing deductions. Itemized deductionItemized deductionSpecific deductions allowed by the IRS outlined in the tax return. Further Suggestionscertificate of deduction of taxmortgage interest deduction Marital deduction Tax deduction Tax deduction Unlimited marital deduction Mortgage interest deduction |
|
|
|