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Tax breaks help pad our bottom line. But inflation makes these deductions less valuable with each passing year. fizkes / Shutterstock.com
Inflation leads to higher bills everywhere, from your favorite grocery store to the car dealership. It also can reduce the value of some key tax deductions and exemptions. A handful of seemingly straightforward federal income tax breaks are not indexed for inflation, meaning they are not automatically adjusted every year or so — if ever — to keep pace with the rising cost of living. So…
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