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What is a tax deduction and how to get a healthy tax refund?

Writer: Michael Johnson
Michael Johnson
Apr 11, 2018
1 min read

Updated: Apr 21

Tax deduction is a reduction of income that is able to be taxed and is commonly a result of expenses, particularly those incurred to produce additional income. The difference between deductions, exemptions and credit is that deductions and exemptions both reduce taxable income, while credits reduce tax.




 
 
 

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