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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
Employers with live-in domestic workers could deduct 10 percent for accommodation, but only if it complied with the minimum standards set.
For instance, in a wave of eight players, the first person to sink their ball would deduct seven strokes from their score.
You simply deduct the amount from your income on your tax return and, added bonus, it's at your highest rate of tax.
But that doesn't deduct from the artistry and distinction that beams from the rest of the film.
In that case, you must deduct the remaining balance over the term of your new loan, the IRS says.
The donation is tax-deductible, and you may be able to deduct the loss from your investments in other taxable income.

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