Definitions for "tax-deductible"
Keywords:  deducted, agi, gross, heir, charity
An item or expense subtracted from adjusted gross income to reduce the amount...
The effect of creating a tax deduction, such as charitable contributions and mortgage interest.
Amounts that may be deducted by a taxpayer in arriving at his or her taxable income. Tax-Deferred: Income not subject to federal income tax in the current tax year but taxed in some future tax year or years. For example, earnings within an IRA are not taxed in the year or years earned, but only upon distribution to the account owner or his or her heir.