deduction

If you get a tax deduction it means you get to reduce the amount of your income that is subject to tax. If something's on sale, you might get a percentage deduction from the original price. Deduction means taking away, or an amount taken away.

If you're a fan of Sherlock Holmes, you already know that the process of logical deduction helps to solve crimes––you take away the information you do know to deduce the answer to what you don't. In figure skating, every mistake on the ice results in a point deduction––the judges take points away.

Definitions of deduction
  1. noun
    the act of subtracting (removing a part from the whole)
    synonyms: subtraction
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    Antonyms:
    addition
    the act of adding one thing to another
    types:
    bite
    a portion removed from the whole
    withholding
    the act of deducting from an employee's salary
    type of:
    decrease, diminution, reduction, step-down
    the act of decreasing or reducing something
  2. noun
    an amount or percentage deducted
    synonyms: discount
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    types:
    trade discount
    a discount from the list price of a commodity allowed by a manufacturer or wholesaler to a merchant
    type of:
    adjustment, allowance
    an amount added or deducted on the basis of qualifying circumstances
  3. noun
    the act of reducing the selling price of merchandise
    synonyms: discount, price reduction
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    type of:
    decrease, diminution, reduction, step-down
    the act of decreasing or reducing something
  4. noun
    a reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer's income bracket
    synonyms: tax deduction, tax write-off
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    types:
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    tax benefit, tax break
    a tax deduction that is granted in order to encourage a particular type of commercial activity
    business deduction
    tax write-off for expenses of doing business
    exemption
    a deduction allowed to a taxpayer because of his status (having certain dependents or being blind or being over 65 etc.)
    entertainment deduction
    deduction allowed for some (limited) kinds of entertainment for business purposes
    type of:
    write-down, write-off
    (accounting) reduction in the book value of an asset
  5. noun
    reasoning from the general to the particular (or from cause to effect)
    synonyms: deductive reasoning, synthesis
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    types:
    syllogism
    deductive reasoning in which a conclusion is derived from two premises
    type of:
    abstract thought, logical thinking, reasoning
    thinking that is coherent and logical
  6. noun
    something that is inferred (deduced or entailed or implied)
    synonyms: entailment, implication
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    type of:
    illation, inference
    the reasoning involved in drawing a conclusion or making a logical judgment on the basis of circumstantial evidence and prior conclusions rather than on the basis of direct observation