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Tax News Jan 2015 - "2015 Tax Deduction, Exemption and Credit Update"

Tax News Jan 2015 - "2015 Tax Deduction, Exemption and Credit Update"

Tax News Jan 2015 - "2015 Tax Deduction, Exemption and Credit Update"

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2015 Tax Deduction, Exemption and Credit Update



It is that time of the year again. The Internal Revenue Service has announced its annual adjustments for 2015 tax provisions. Many are different than last year, but some remain unchanged. Remember, the amounts listed below have nothing to do with preparing your 2014 tax return this spring. These amounts are valuable now in budgeting and tax planning for next year. Let’s look at the changes to basic deductions and expenses as well as specific ones detailed by category.  


 


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