deduct

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deduct (something) from (something)

To subtract something from something else. This phrase is commonly used with financial transactions. You can deduct all of your travel expenses from the corporate account.
See also: deduct
Farlex Dictionary of Idioms. © 2015 Farlex, Inc, all rights reserved.

deduct (something) from (something else)

to subtract an amount from another amount. Are you going to deduct this from your income taxes? Mr. Wilson deducted the discount from the bill.
See also: deduct
McGraw-Hill Dictionary of American Idioms and Phrasal Verbs. © 2002 by The McGraw-Hill Companies, Inc.
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References in periodicals archive ?
The FBR, during the year 2014-15, deducted at-source Rs816.267 million from Excise Department, Rs11.878 million from Board of Revenue, Rs6.662 million from Mines and Mineral Development Department and Rs1.704 million from Transport and Mass Transit Department.
4) Advisory fees are a Tier II deduction and as such, are deducted on IRS Form 1040, Schedule A.
I say to ECHO readers: if yours has not been deducted, ring and complain and get them to ring you back as it's a premium number.
The agreements will provide the CPA with the royalty rate, any applicable advances and the types of expenses deducted prior to computing the royalty amount, along with other information.
94-12 (which deals with the treatment of incidental repairs), the IRS confirmed that INDOPCO did not "change the fundamental legal principles for determining whether a particular expenditure can be deducted." Similar guidance was provided in respect of advertising expenditures (in Rev.
Such stock, often referred to as temporary equity, usually is presented between liabilities and equity-"on the mezzanine." In the income statement, however, mandatorily redeemable stock is treated just like all other preferreds; the dividends are deducted from net income to determine earnings available for holders of common stock.
On a suo motu notice, the apex court took notice of public complaints that an unreasonable and high amount of tax and other charges were being deducted from the topping up of the balance through easyload and calling cards besides taxing the calls for every Rs100 charge, Rs40 was deducted in the form of different taxes.
The chief minister who also holds the portfolio of finance department had worked out the figures and said that in 2012-13, an amount of Rs633.119 million was unconstitutionally deducted by the FBR from Provincial Consolidated Fund (PCF) in respect of withholding tax.
X is not required to capitalize the portion of the insurance payment attributable to 2006 because of the 12-month rule, and the portion can be deducted in 2005 because the all-events test is met, the amount is determinable with reasonable accuracy, and economic performance was satisfied on payment.
After the shareholders deducted their losses, their stock basis was zero.
Since Congress believes that a single economic loss should only be deducted once, the 2004 American Jobs Creation Act added Sec.
We believe that the legal principles that taxpayers have analyzed -- and from which they have concluded that the identified business expenditures may be deducted -- can and should be restated in public guidance.
One caveat: The amount deducted cannot be more than your taxable self-employment income.
1.162-4, the costs of incidental repairs that neither materially add to a property's value nor appreciably prolong its life, but keep it in an ordinarily efficient operating condition, may be deducted currently as an expense.
The pre-1994 interest of $787,994 had not been deducted by the taxpayer due to the restrictions of IRC section 267(a)(2).