top of page
Search

What is a tax deduction?

  • Writer: Michael Johnson
    Michael Johnson
  • Oct 25, 2021
  • 1 min read

Tax deduction is a reduction of income that is able to be taxed and is commonly a result of expenses, particularly those incurred to produce additional income. The difference between deductions, exemptions and credit is that deductions and exemptions both reduce taxable income, while credits reduce tax.



 
 
 

Comments


  • Black Facebook Icon
  • Black Twitter Icon
  • Black LinkedIn Icon
bottom of page