Glossary > Accounting > deduction
deduction
noun

the removing of money from a total, or the amount of money removed from a total

Examples

  • Net salary is salary after deduction of tax and social security.

  • The deduction from her wages represented the cost of repairing the damage she had caused to the machinery.

Usage
deductions from salary
money which a company removes from salaries to give to the government as tax, National Insurance contributions, etc.
Browse by Subjects
Stocks
Mutual Funds
Banking
Brokerages
Fundamental Analysis
Related Terms
free cash flow
contribution income statement
border tax adjustment
gross
earnings before interest and tax
See All Related Terms »

Popular Terms In Accounting
fraudulently
option dealing
Demand Inflation
central bank
lay out