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 ?
Thus, for a taxpayer to currently deduct employment taxes on accrued vacation/bonus pay that is paid in the subsequent year, it must meet the all events test and economic performance must have occurred with respect to the liability.
69-587 and Eastman Kodak, provide a framework for determining whether the taxpayer, in the instant case, can deduct the employment taxes related to the accrued vacation and bonus pay if it establishes certain elements.
In any case, the organization can then use the contribution to pay the legal fees, and deduct them as an ordinary and necessary business expense.
Willie can deduct the remaining $150 of property taxes on Schedule A.
162(a), a taxpayer can deduct all the ordinary and necessary expenses paid or incurred during the tax year in carrying on any trade or business.
2001-4 appear to set some taxpayer-friendly standards for determining when taxpayers can deduct, rather than capitalize, major maintenance expenses.
404(a) and (a) (5), S could deduct the payments only if (1) they would otherwise be deductible as Sec.
274(n)(2) allows the taxpayers to deduct the entire cost of the meals if they are a Sec.
* Elimination of AMT issues: A partner in an investment partnership cannot deduct any of his share of the partnership's operating expenses against the alternative minimum tax (AMT) because the deductions are treated as miscellaneous itemized deductions, not deductible when computing the AMT.
For ACE purposes, G is allowed to deduct the 80% DRD to the extent that the dividend it received from R is attributable to earnings subject to Federal income tax.
In order to deduct education expenses, a taxpayer must be engaged in the "carrying on" of a trade or business.
This case seems clearly distinguishable from K-U's casualty loss issue, since Wallingford dealt with a successor corporation attempting to deduct voluntary payments on a predecessor corporation's debt.
Is the taxpayer entitled to deduct these expenditures, or are they considered nondeductible advances?
If a fee is paid to enable either the lessor or lessee to enter into a more favorable lease, the cancellation fee must be amortized over the period of the new lease.(13) If a lease is canceled and the lessee does not enter into a new lease for the same premises, the lessee can deduct currently any unamortized acquisition costs.(14)
Refinancing points are deducted over the life of the loan.