Deductions and exemptions lower the amount of your income that is taxed. $1 of deduction saves 10-15 cents of tax.
You may also be able to deduct:
Do you pay for childcare for your child under 12 who lives with you?
You can avoid paying too much tax when you're self-employed. You can save $1,000's in taxes and penalties by taking the time to get your business taxes done right. Start early!
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