Deduction vs. Exemption
Deductionnoun
That which is deducted; that which is subtracted or removed
Deductionnoun
A sum that can be removed from tax calculations; something that is written off
Deductionnoun
(logic) A process of reasoning that moves from the general to the specific, in which a conclusion follows necessarily from the premises presented, so that the conclusion cannot be false if the premises are true.
Deductionnoun
A conclusion; that which is deduced, concluded or figured out
Deductionnoun
The ability or skill to deduce or figure out; the power of reason
Deductionnoun
Act or process of deducing or inferring.
Deductionnoun
Act of deducting or taking away; subtraction; as, the deduction of the subtrahend from the minuend.
Deductionnoun
That which is deduced or drawn from premises by a process of reasoning; an inference; a conclusion.
Deductionnoun
That which is or may be deducted; the part taken away; abatement; as, a deduction from the yearly rent in compensation for services; deductions from income in calculating income taxes.
Deductionnoun
a reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer's income bracket
Deductionnoun
an amount or percentage deducted
Deductionnoun
something that is inferred (deduced or entailed or implied);
Deductionnoun
reasoning from the general to the particular (or from cause to effect)
Deductionnoun
the act of subtracting (removing a part from the whole);
Deductionnoun
the act of reducing the selling price of merchandise
Deductionnoun
the action of deducting or subtracting something
Deductionnoun
an amount that is or may be deducted from something, especially from taxable income or tax to be paid
Deductionnoun
the inference of particular instances by reference to a general law or principle
Exemptionnoun
An act of exempting.
Exemptionnoun
The state of being exempt; immunity.
Exemptionnoun
A deduction from the normal amount of taxes.
Exemptionnoun
Freedom from a defect or weakness.
Exemptionnoun
The act of exempting; the state of being exempt; freedom from any charge, burden, evil, etc., to which others are subject; immunity; privilege; as, exemption of certain articles from seizure; exemption from military service; exemption from anxiety, suffering, etc.
Exemptionnoun
immunity from an obligation or duty
Exemptionnoun
a deduction allowed to a taxpayer because of his status (having certain dependents or being blind or being over 65 etc.);
Exemptionnoun
an act exempting someone;
Exemptionnoun
the action of freeing or state of being free from an obligation or liability imposed on others
