deduction

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deduction

humorous slang A child (as having children impacts one's taxes and deductions). I can't believe you guys have three little deductions now, wow.

deduction

n. a child. (see also expense.) How many little deductions do you have running around your home?
References in classic literature ?
Along that line of thought such a deduction is indubitable, as indubitable as the deduction Voltaire made in jest (without knowing what he was jesting at) when he saw that the Massacre of St.
199A, however, A is entided to a deduction of $160,000, the lesser of 20% of qualified business income or the greater of:
Under the safe harbor in the revenue procedure, a taxpayer may be able to take a deduction in the year that he or she pays for repairs, regardless of the prospects for a recovery or reimbursement for the damage; under Treas.
But the federal court revealed Fiorentina will now start the new season in Serie A with a deduction of 19 points and Lazio with an 11-point deficit.
Subject to a myriad of exceptions, Code Section 163(a) allows any taxpayer -- entity or individual -- a deduction for "all interest paid or accrued within the taxable year on indebtedness." This provision has been a Part of the Code since the inception of the modern income tax in 1913.(67) No explanation for the original provision was provided; presumably none was needed.
We request that Revenue Canada consider the following situations involving duplicate housing costs reimbursed by the employer to the employee and comment on the taxability of the payments as well as the availability of a deduction for moving expenses by the employee under section 62.
A home mortgage must be secured by the residence in order to be considered qualified residence interest and result in a deduction on the homeowner's tax return.
if the fair market value exceeded Partner A's share of the partnership's nonrecourse debt ($40,000), then a deduction would be computed for that excess using the rules under Sec.
165(j) denies a deduction for losses on securities that are required to be issued in registered form but are not registered.
Where an expenditure is regular and recurring, a deduction in the year the expense is incurred will more clearly reflect income since the expense will then be matched with the annual revenues produced by the expenditure.
1446 with respect to a foreign partner, the gross amount of a deduction that is currently limited for federal income tax purposes to the amount of income in a particular classification (i.e., passive activity losses or capital losses), is not to be taken into account under Sec.
Section 167(r) applies with the result that C, Inc., must reduce its basis by $6,000 a year without receiving a deduction while A and B increase their basis by $6,000 a year.
The amount included in income is treated as a deduction allocable to the activity in the first succeeding tax year (Sec.
To deny a deduction for expenses actually incurred when the related income is known and previously reported would result in a gross mismatching of income and expense thereby distorting the computation of taxable income.(20)
If the asset is a business asset, the amortization would be a deduction against the income generated.