deduct


deduct
deduct de‧duct [dɪˈdʌkt] verb [transitive]
1. to take away an amount from a total:

• Brazil has about 48 million bags of coffee available for sale; from this, deduct about eight million bags for domestic use.

2. ACCOUNTING to take away an amount from an employee's pay for a particular purpose before they receive it:

• We deduct the pension contributions from employees' paychecks.

3. TAX to take away particular costs from the amount you have earned before you calculate how much tax you will have to pay on what you have earned:

• Self-employed people can deduct 100% of health-insurance costs against income.

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deduct UK US /dɪˈdʌkt/ verb [T]
to take away an amount or part from a total: deduct sth from sth »

By arrangement with your mortgage holder, you can have them automatically deduct a regular payment from a checking or savings account.

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Each week a small amount is deducted from her wages for the pension plan.

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Tax and National Insurance contributions are deducted at source, before you receive your salary.

TAX to take away the cost of particular things from the amount of money that you have earned, before you pay tax on it: deduct sth from sth »

There are many expenses you can deduct from your income before calculating tax.


Financial and business terms. 2012.

Synonyms:

Look at other dictionaries:

  • Deduct — De*duct , v. t. [imp. & p. p. {Deducted}; p. pr. & vb. n. {Deducting}.] [L. deductus, p. p. of deducere to deduct. See {Deduce}.] 1. To lead forth or out. [Obs.] [1913 Webster] A people deducted out of the city of Philippos. Udall. [1913 Webster] …   The Collaborative International Dictionary of English

  • deduct — deduct, subtract mean to take away one quantity from another. Deduct usually is used in reference to amounts (as of costs, payments, or credits) while subtract is used in reference to numbers or to figures obtained by a computation or calculation …   New Dictionary of Synonyms

  • deduct — de·duct vt: to take away (an amount) from a total; specif: to take as a deduction must be capitalized...rather than immediately deduct ed D. Q. Posin compare amortize Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • deduct — (v.) early 15c., from L. deductus, pp. of deducere lead down, bring away; see DEDUCE (Cf. deduce), with which it formerly was interchangeable. Technically, deduct refers to taking away portions or amounts; subtract to taking away numbers. Related …   Etymology dictionary

  • deduct — [v] take away or out; reduce abstract, allow, bate, cut back, decrease by, diminish, discount, dock, draw back, knock off, lessen, rebate, reduce, remove, roll back, subtract, take, take from, take off, withdraw, write off; concepts 236,247 Ant.… …   New thesaurus

  • deduct — ► VERB ▪ subtract or take away from a total. ORIGIN Latin deducere to take or lead away …   English terms dictionary

  • deduct — [dē dukt′, didukt′] vt. [ME deducten < L deductus, pp. of deducere: see DEDUCE] to take away or subtract (a quantity) …   English World dictionary

  • deduct — 01. Because she has to travel all over the place for her work , she can [deduct] her car as a business expense. 02. If you hand your assignment in late, I will [deduct] 5% for each day it is overdue. 03. The profits are lower than they appear… …   Grammatical examples in English

  • deduct — UK [dɪˈdʌkt] / US verb [transitive] Word forms deduct : present tense I/you/we/they deduct he/she/it deducts present participle deducting past tense deducted past participle deducted to take an amount or number from a total deduct something from… …   English dictionary

  • deduct — v. (D; tr.) to deduct from (to deduct a tax from one s wages) * * * [dɪ dʌkt] (D;tr.) to deductfrom (to deducta tax from one s wages) …   Combinatory dictionary


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