Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “standard deduction”

standard deduction

noun [C or U]
 
 
ACCOUNTING, TAX
in the US, a system that allows someone to report a particular amount of income on which they should not pay tax: People over age 65 are eligible for a higher standard deduction than younger taxpayers.
(Definition of standard deduction from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of standard deduction?
Add Cambridge dictionaries to your browser to your website

Word of the Day

first:

(a person or thing) coming before all others in order, time, amount, quality, or importance

Word of the Day

Countability – grammar codes

by Dom Glennon​​,
November 26, 2014
Advices and informations Have you ever noticed strange codes in square brackets on entries in Cambridge Dictionaries Online and wondered what they mean? These are grammar codes, giving you a brief summary of how that word behaves grammatically. More information can be obtained by hovering your cursor over the code, and there’s

Read More 

ped-text verb

November 24, 2014
to text someone while walking I’m ped-texting, I’m looking down at my phone, 75 percent of the time.

Read More