ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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STANDARD DEDUCTIONS Definition
STANDARD DEDUCTIONS is used to reduce income by taxpayers who do not itemize allowable deductions on their tax returns. The amount of the deduction depends on your filing status: if you are 65 or older, if you are blind and whether you can be claimed as a dependent on another taxpayers income tax return. See ITEMIZED DEDUCTIONS.
Learn new Accounting Terms
AFUDC is Accumulated Funds Used During Construction or Allowance for Funds Used During Construction.
DIT is Depreciation, Interest and Taxes.