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Interest deduction |
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Interest deductionAn interest expense, such as interest on a margin account, that is allowed as a deduction for tax purposes.Interest deduction Similar MatchesMortgage interest deductionMortgage interest deductionA federal tax deduction for interest paid on a mortgage used to acquire, construct, or improve a residence. DeductionDeductionIn 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. Marital deductionMarital deductionA tax deduction that allow spouses to transfer unlimited amounts of property to one another. 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. Certificate of deduction of taxCertificate of deduction of taxA certificate, issued by a building society or bank (in accordance with Section 352 of the Income and Corporation Taxes Act 1988) to its customers with interest bearing accounts, in which gross interest, tax deducted and net interest are depicted. Further SuggestionsTax deductionStandard deduction mortgage interest deduction Deduction Itemized deduction Tax deduction Unlimited marital deduction |
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