"deduct the amount" is correct and usable in written English.
For example, you could use it in a sentence like this: "Please deduct the amount of $50 from my total bill."
You can now reimburse MIT through a one-time payroll deduction, by filling out this Payroll Deduction Form authorizing MIT HR/Payroll to deduct the amount owed MIT from your pay.
Axing deductions for state and local taxes, for instance, while increasing the value of a fixed "standard deduction," would result in far fewer households finding it worthwhile to deduct the amount they spend on mortgage interest.
In return, the city would deduct the amount owed in back taxes from the rent.
Can I deduct the amount they owe me from my maintenance?
Fiscal Service may deduct the amount of the erroneous offset payment from future amounts payable to the State.
Deduct the amount quoted from the amount claimed on the stopped cheque and pay the balance into court.
The law also allows the banks to deduct the amounts paid to regulators from any settlement with Enron investors, said John T. Bostelman, a lawyer at Sullivan & Cromwell in New York.
The clerk put the coffee back on the shelf and deducted the amount.
He then wrote checks from that company for nonexistent rental expenses and deducted the amount from his taxes.
But in five states - Arkansas, Idaho, Nebraska, Ohio and Oregon - U.S. Bank lets the transaction go through, and then deducts the amount, plus the overdraft fee, from the recipient's next benefits check.
If the managing agent refused to comply with this request, Mr. Mandel said, the shareholder could take the risk of deducting the amount he was owed.
