Examlex
Internal users of financial information
Deductible
A cost that can be deducted from total income to lower the taxable income amount.
Charitable Contribution Deduction
A tax deduction that allows taxpayers to deduct donations made to qualifying charitable organizations from their taxable income.
Itemize Deductions
To list allowable expenses that can be subtracted from adjusted gross income to reduce taxable income, rather than taking a standard deduction.
Taxpayers
Individuals or entities that are required to pay taxes to a federal, state, or local government.
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