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

monster

any imaginary frightening creature, especially one that is large and strange

Word of the Day

What’s that lovely smell?

by Kate Woodford,
October 29, 2014
As adult humans, we can distinguish about 10,000 different smells. It’s no wonder, then, that we have so many words and expressions to describe them. This week we’re taking a look at those smell words – words that describe good smells and words that describe bad smells. Most smell words are either

Read More 

high-frequency trading noun

October 27, 2014
a type of stock market trading that uses very complex technology to trade extremely quickly, often making tiny profits which nevertheless add up to substantial sums Lewis’s book, Flash Boys, is driving a huge amount of attention toward the topic of high frequency trading, and it has rekindled some of

Read More