Deducting: meaning, definitions and examples
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deducting
[ dɪˈdʌktɪŋ ]
financial terms
Deducting refers to the process of subtracting an amount from a total or removing a portion from an overall sum. This term is often used in financial contexts, such as in tax calculations where specific expenses can be deducted from total income. The purpose of deducting is to determine the net amount, whether it is for tax obligations or calculating net income from revenues. Deduction can also imply reducing the value or quantity of something based on certain criteria or rules.
Synonyms
deducing, removing, subtracting.
Examples of usage
- You can deduct business expenses from your taxable income.
- The accountant is deducting the costs from the profit margin.
- After deducting taxes, our profits have decreased significantly.
Translations
Translations of the word "deducting" in other languages:
🇵🇹 deduzindo
🇮🇳 कमी करना
🇩🇪 abziehen
🇮🇩 mengurangi
🇺🇦 вирахування
🇵🇱 odejmowanie
🇯🇵 控除する
🇫🇷 déduction
🇪🇸 deducción
🇹🇷 hesaplama
🇰🇷 공제
🇸🇦 خصم
🇨🇿 odečítání
🇸🇰 odpočítavanie
🇨🇳 扣除
🇸🇮 odvzemanje
🇮🇸 frádráttur
🇰🇿 азайту
🇬🇪 დაკლება
🇦🇿 çıxarma
🇲🇽 deducción
Etymology
The term 'deduct' originates from the Latin word 'deductus', which is the past participle of 'deducere', meaning 'to lead down, bring down, or withdraw'. It is composed of two parts: 'de-', meaning 'down from', and 'ducere', meaning 'to lead'. The word entered Middle English in the 15th century, evolving into its current usage as we began to apply it in legal and financial contexts. Over time, it has become a critical term in areas such as accounting and taxation, denoting the practice of reducing amounts for calculations. The act of deduction is fundamental in establishing fairness in financial dealings, ensuring that taxable income reflects true profitability.