You can deduct up to $500 for money given to charity.
after deducting taxes, what's left is your net pay for the week
Recent Examples on the WebOne way to start saving: set up an automatic savings plan through your employer or bank, and have a small amount deducted and sent to a dedicated emergency account every time you get paid.—Diane Harris, TIME, 15 Apr. 2024 The government contended that the partnership did not satisfy all the requirements for deducting a noncash charitable contribution under Treas.—Jessica Ledingham, J.d., Ll.m., Forbes, 29 Mar. 2024 The requirement that rebates be deducted from the appliances’ price at the point of sale complicates that rollout, as do eligibility requirements based on income.—Bloomberg, The Mercury News, 27 Feb. 2024 No limit exists for the amount of the public pension that can be deducted on the state level for these retirees.—Susan Tompor, Detroit Free Press, 22 Feb. 2024 In the past, companies were able to deduct 100% of research and development expenses from their taxable income.—Mae Anderson, Quartz, 28 Mar. 2024 To deduct the amount on the 2023 return, though, contributions or purchases must have been made by Dec. 31, 2023.—Susan Tompor, Detroit Free Press, 19 Mar. 2024 For most older adults, Medicare premiums are deducted from their Social Security benefits each month.—Howard Gleckman, Forbes, 27 Feb. 2024 Not only did these nonprofit organizations pay no income taxes on the income, but TV networks got to deduct the licensing fees as a cost of doing business.—Scott Hodge, Orange County Register, 26 Feb. 2024
These examples are programmatically compiled from various online sources to illustrate current usage of the word 'deduct.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.
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