Similar words: deduction, reduction, abduction, induction, adduction, conduction, production, reproduction. Meaning: n. a reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer's income bracket.
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31. Please note that an annual receipt will be issued in April for your tax deduction purposes.
32. American families, which host foreign students, are not paid, though they are allowed a small income tax deduction.
33. Corporations can also claim an income tax deduction for dividends paid on ESOP-owned stock.
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