Sentence examples for deduction instead from inspiring English sources

The Gore campaign quickly released an analysis suggesting that if the Bechacs did some of the things that trigger tax breaks under the Gore plan -- like paying for day care for their children or taking a standard deduction instead of itemizing or putting money in certain kinds of savings accounts -- they might get an even bigger tax cut.

In theory, any taxpayers who claim the temporarily higher standard deduction instead of itemizing in 2008 will have simpler returns.

"While deductions are generally worth less than credits, your situation may warrant claiming the deduction instead of the credit," says Robert Meighan, a CPA and vice president of Intuit's TurboTax unit.

If you're on the hunt for a new job, many of your costs may also be deductible, as long as you itemize your deductions instead of taking the standard deduction.

BUNCHING DEDUCTIONS -- Taxpayers whose deductions are usually not enough to let them itemize may be able to do so in alternate years by bunching deductions instead of taking the standard deduction year after year.

What is unclear is whether Mr. Obama might agree to extend the top income-tax rates if Republicans agree to raise revenue from wealthy taxpayers by limiting their deductions instead, as Mr. Boehner suggested last week.

And there's extra revenue too, notably from changing the treatment of itemized deductions: instead of being a deduction from taxable income, they offer a tax credit, not to exceed 28 percent — which means a further substantial tax rise for people in the top bracket.

At present, firms can exploit agreements intended to avoid double taxation of profits by using them to obtain double tax deductions instead.

But the truth is the break only helps you if you're in one of the 37% of households– primarily middle- and upper-income homeowners who itemize their deductions, instead of taking the standard deduction.

That's the case even though the vast majority of taxpayers ― about 70percentt ― do not itemize deductions, and instead take the "standard deduction," which this year will be $6,350 for single filers and $12,700 for married couples.

The shortage of affordable, high-quality housing could be addressed if federal money forfeited to the home mortgage interest deduction was instead used to expand the supply and improve the quality of affordable public and private housing.