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What does deduct mean?

Looking for the meaning or definition of the word deduct? Here's what it means.

Verb
  1. To take one thing from another; remove from; make smaller by some amount.
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Examples
To determine the amount of the wraparound mortgage, deduct your down payment from the purchase price.
For instance, in a wave of eight players, the first person to sink their ball would deduct seven strokes from their score.
You can deduct the actual amount of your sales taxes, which means holding on to sales receipts in case of an audit.
The payer must deduct standard rate income tax and remit it to the Revenue.
The tenant or local agent is obliged to deduct 25 per cent withholding tax from rental income and send it to the tax office.
You simply deduct the amount from your income on your tax return and, added bonus, it's at your highest rate of tax.

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