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Many people think that tax deductions and credits are the same, but they’re not. Tax deductions reduce your taxable income, but tax credits reduce your tax bill dollar for dollar. Click through to find out what that means and when it matters.
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If you don’t qualify for the child tax credit, you may be able to claim the credit for other dependents. Click through for an introduction to this often forgotten tax break, to see whether you’re eligible to claim it on your tax return.
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The federal government typically taxes unemployment compensation, but it granted a partial break for income earned in 2020. That break has expired. Click through to learn what to expect for unemployment compensation earned in 2021.
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It’s been a busy few months on the tax front, and as the filing date draws closer, the IRS is giving some filing advice. Click through for a summary to help you prepare for your financial reckoning on April 15.
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Do you need a trust, or is a will enough? Many people think that trusts are just for the very wealthy, but even those with modest incomes may find them useful. Click through to learn whether a trust is right for you.
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