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2. Confused About Tax Deductions? Here's A Simple Guide To ... - AOL

   www.aol.com/news/how-do-tax-deductions-work...

   Understanding Tax Deductions Vs. Tax Credits. ... Earned income tax credit: This can score you between $1,502 and $6,728 in 2021, depending on how many kids you have, ...

3. Tax Deductions Explained (and Common Ones You Could Claim) - AOL

   www.aol.com/tax-deductions-explained-common-ones...

   Beginning in 2018, you can deduct state and local taxes up to $10,000 or $5,000 if you’re married filing separately. Those caps are for state and local income, property and sales taxes combined ...

4. Understanding Pre- and Post-Tax Deductions on Your Paycheck - AOL

   www.aol.com/finance/understanding-pre-post-tax...

   Understanding Pre-Tax vs. Post-Tax Deductions. Pre-tax deductions are when your employer pulls money out of your check before the IRS gets its claws on its share of your income. Although it would ...

5. Income tax in the United States - Wikipedia

   en.wikipedia.org/wiki/Income_tax_in_the_United...

   The United States federal government and most state governments impose an income tax. They are determined by applying a tax rate, which may increase as income increases, to taxable income, which is the total income less allowable deductions. Income is broadly defined. Individuals and corporations are directly taxable, and estates and trusts may ...

6. Taxation in the United States - Wikipedia

   en.wikipedia.org/wiki/Taxation_in_the_United_States

   The tax allowed deductions for business expenses, but few non-business deductions. In 1918 the income tax law was expanded to include a foreign tax credit and more comprehensive definitions of income and deduction items. Various aspects of the present system of definitions were expanded through 1926, when U.S. law was organized as the United ...

7. Standard deduction - Wikipedia

   en.wikipedia.org/wiki/Standard_deduction

   Under United States tax law, the standard deduction is a dollar amount that non- itemizers may subtract from their income before income tax (but not other kinds of tax, such as payroll tax) is applied. Taxpayers may choose either itemized deductions or the standard deduction, [1] but usually choose whichever results in the lesser amount of tax ...