business deduction

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Definitions from WordNet

Noun business deduction has 1 sense

business deduction - tax write-off for expenses of doing business
--₁ is a kind of tax write-off, tax deduction, deduction
--₁ has particulars: entertainment deduction

Definitions from the Web

Business Deduction

Description:

A business deduction refers to a legitimate expense incurred by a business that is allowed to be subtracted from the total business income, thus reducing the taxable income and the amount of taxes owed.

Sample Sentences:

Noun:

Keeping careful records of business deductions can help maximize tax savings for entrepreneurs.
The accountant advised the small business owner on how to claim various business deductions.
Advertising expenses can be claimed as a business deduction.

Adjective:

The business deduction policy has undergone some significant changes this year.
Eligible individuals can take advantage of valuable business deduction opportunities.
Understanding the business deduction rules is crucial for avoiding unnecessary tax penalties.

Verb:

She diligently deducts all business-related expenses to minimize her tax liability.
He forgot to deduct the mileage from his business trip on his tax return.
The self-employed individuals deduct their home office expenses as a business deduction.

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