A Tax Deduction Is

question 11

Multiple Choice

A tax deduction is

• A)a reduction in taxes to zero.
• B)an expenditure that can be subtracted from income before figuring the taxes owed.
• C)the same as a tax exemption.
• D)a type of monetary policy.
• E)the amount a taxpayer pays in Social Security taxes in a given year.

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Definitions:

Cloud-Based

Describing applications, services, or resources made available to users on demand via the internet from a cloud computing provider's servers.

Web Browser

A software application used to access information on the World Wide Web, displaying HTML files and enabling navigation.

Installed Software

Computer programs that are downloaded and installed on a computer's hard drive, as opposed to being used in a web browser.

Cash Sales

Transactions where payment is made in cash at the time of purchase.