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Tax Deductions

A tax deduction reduces the amount of income that is subject to taxation by federal and state governments. View the current standard deduction amounts and other tax deduction information.

Latest Tax Deduction Articles

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    Valuing goodwill

    Helping a new owner learn the ropes should be reflected in the purchase price of the business.

    2 min read Oct 23, 2008
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    Gain on rental real estate

    Owners of condemned rental real estate can defer capital gains if they purchase another rental.

    3 min read Oct 16, 2008
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    Deducting exercise equipment

    If a doctor prescribes exercise equipment for physical therapy, the IRS allows a deduction.

    1 min read Sep 24, 2008
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    Taxes on per diem

    When figuring whether or not per diem is taxed, take into account your ‘tax home,’ says CPA George Saenz.

    2 min read Sep 16, 2008
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