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Learn the tips and tricks that might help you save on your taxes just like the wealthy. Mags Ascough / Shutterstock.com
The tax season is over, but for Americans with the means to hire tax advisers or other financial experts, tax planning often happens year round. Generally, taxpayers must report every dollar earned and will owe taxes on the portion that’s considered taxable income. But there are many legal ways to shrink your taxable income and thus your tax liability, such as by taking advantage of tax deductions.
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