Question

what is a tax deduction?

Answer 1

can you tell me what are you referring to?

Answer 2

deferred tax asset/ deferred tax liabilities???

Answer 3

A tax deduction is whatever your accountant says is a tax deduction. Make sure you have an honest accountant.

Answer 4

a tax deduction is most often an expense which is tax deductible i.e. tax - expense = tax you actually pay. the most common tax deductible world-wide is charitable donation. if you in the US or many European countries make a donation to a charitable cause you deduct that expense from the taxes you pay.