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All you need to Know About Personal Finance Tax Deductions

8 Commonly Missed Tax Deductions

These often overlooked write offs are worth the time to find out if you qualify to claim them.

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2012 Is the Last Year to Claim These 5 Tax Write Offs

Don't count on these tax write offs next year.

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IRS Joins the Fight Against Breast Cancer with Tax Write-Offs for Patients

Continuing advances in breast cancer treatment may be improving the odds of survival for many cancer patients, but this advanced technology also means that the cost of treating this disease may be higher than ever. Even for those with insurance, the medical bills associated with breast cancer treatment are a significant burden. Researchers from the...

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The Strangest Taxes and Deductions by U.S. State

The United States, despite its own quirks and complications, can sometimes seem pretty normal in comparison to the things that go on in other countries. Take taxes — even when it comes to the most mundane of topics, our neighbors overseas can come up with hilariously bizarre charges and fines (like Sweden’s Stripper Tax).

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What Are Itemized Deductions?

Everyone who files taxes has to face the decision of whether to choose standard or itemized deductions. There are benefits to taking either route depending on how many tax deductions you are able to claim. The key is to look at your personal financial situation to decide the best route for you. To help you...

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Tax Overhaul Could Jeopardize Mortgage Interest Tax Deduction

Overhauling the tax code is on the minds of lawmakers now that the Bush Tax cuts are set to expire, but while some adjustments are applauded, members of the housing industry are up in arms regarding the proposal to adjust the mortgage interest tax deduction. Being in the middle of an incredibly fragile housing market,...

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10 Tax Deductions You Probably Forgot

A number of tax deductions are out there that many taxpayers seem to forget about because they are so uncommon. This is especially true for those deductions that are hidden within the itemized section since many taxpayers opt for standard deductions on their returns. But knowing about them and claiming them could significantly reduce your...

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Haiti Contributions Approved for 2009 Tax Deductions

If you’ve contributed to the Haiti disaster relief effort, you’re about to get repaid for your generosity – at least through tax deductions. On Thursday, the Senate unanimously passed legislation that will allow taxpayers to deduct their cash donations made to the Haiti earthquake relief on their 2009 tax returns. This is good news for...

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10 Common Tax Deductions You Shouldn’t Miss

If you’re used to filing your taxes, you know that there are a lot of options when it comes to taking your deductions. There are deductions that you could take advantage of in the adjusted gross income section, as well as some that are available if you choose to itemize your deductions. In the adjusted...

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Understanding Tax Credits vs. Tax Deductions

Ben Franklin once said, “…in the world nothing can be said to be certain except death and taxes.” Tax season is an exceptionally stressful time for Americans scrambling to properly complete their tax returns. Tax credits and tax deductions are two completely separate things that you should be aware of when filing taxes this year....

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Tempting (But Illegal) Tax Deductions

No one actually enjoys paying taxes, but most of us are resigned to paying what we have to. Some people, however, really hate it, and they devote a lot of imagination and brainstorming to find ways to pay less. One extremely popular method for lowering a final tax bill is to claim income tax deductions...

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