URL details: www.watsontaxfinancial.com/blog/wonder-what-a-tax-deduction-is-worth/43595
URL title:
Wonder What a Tax Deduction Is Worth? | Watson Tax & Financial Services
URL description:
Individuals are always looking for tax deductions that can reduce their tax liability. But what is the actual tax benefit derived from a tax deduction? There is no straightforward answer because some deductions are “above the line”, others must be itemized, some must exceed a threshold amount before being deductible, and certain ones are not deductible for alternative minimum tax purposes, while business deductions can offset both income and self-employment tax. In other words, there are many factors to con
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