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Results tagged with tax-deduction
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user 79217
A tax deduction is a deduction that lowers a person’s tax liability by lowering his taxable income. Deductions are typically expenses that the taxpayer incurs during the year that can be applied against or subtracted from his gross income in order to figure out how much tax is owed.
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Medical expenses tax deductions - billed vs. paid
The expense occurs when you pay it, so the expense would be deductable for the year of that January. (Source: working with a tax accountant last year when I was in a similar situation. Disclaimer: I …
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