Credits & Deductions

Posted by on Dec 11, 2012 in 2012 Tax News | Comments Off on Credits & Deductions

There are a variety of credits and deductions for individual and business taxpayers.

The Earned Income Tax Credit, and the Child and Dependent Care Credit help millions of families every year. There are also a number of credits for small and large businesses. You may have taken deductions when you prepared your annual tax return. In addition to the standard deduction for individuals, common deductions include home mortgage interest, state and local tax, and charitable contributions. Many business expenses are deductible as well.

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