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Explain some of the deductions allowed in tax laws. When is it beneficial to itemize deductions instead of taking a standard deduction?

Explain some of the deductions allowed in tax laws. When is it beneficial to itemize deductions instead of taking a standard deduction?

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Some tax deductions allowed in tax laws entail IRA contributions i.e. $5500 or $6500 if you are over 50 years old,head of... View the full answer

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