Hundreds of potential federal tax breaks are out there for the taking. The key is knowing where to look, keeping good records, and planning to maximize their value. Get to know the different types of deductions and how they're handled when filling out your tax return—and keep good records—so you can potentially lower your taxes. Although “tax deduction” is often used as a catch-all, there are three types of tax reducers: above-the-line deductions, below-the-line itemized deductions, and tax credits. Read More
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