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August 2022 - Accu-Tax

Top Six Tax Deductions for Seniors and Retirees

Standard Deduction Every taxpayer has the option of claiming the standard deduction or itemising deductions on IRS Schedule A. If your personal deductions (mostly home mortgage interest, real estate taxes, charitable donations, and medical costs) are less than the standard deduction, you should take the standard deduction. In 2018, the Tax Cuts and Jobs Act,...

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Copyright by Accu-Tax. All rights reserved.