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Bookmark or Share- Tax credits and deductions for individuals - Internal Revenue ServiceTax credits and deductions change the amount of a person's tax bill or refund. People should understand which credits and deductions they can claim and the records they need to show their eligibility.
- 22 Popular Tax Deductions and Tax Breaks - NerdWalletA deduction cuts the income you're taxed on, which can mean a lower bill. A credit cuts your tax bill directly. Learn more about common tax breaks and how to claim them.
- What Does Tax Deductible Mean, and What Are Common Deductions?What Is a Tax Deductible? A tax deductible is an expense that an individual taxpayer or a business can subtract from adjusted gross income (AGI).
- Tax Deductions - InvestopediaA tax deduction is an item you can subtract from your taxable income to lower the amount of taxes you owe. Browse Investopedia's expert-written library to learn more.
- What Are Tax Deductions? A 101 Guide - Intuit TurboTax BlogTax deductions are essentially items or costs the IRS allows to reduce your taxable income on your tax return. Put simply, tax deductions lower the amount of money you must pay taxes on.A tax deduction is also referred to as a tax write-off.
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