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Leonard Pokrovski

added blog Personal Finance
2025-11-21 19:29:25 -

Can I Itemize Deductions or Should I Take the Standard Deduction?
Can I Itemize Deductions or Should I Take the Standard Deduction? Which Is Better for My Situation—and What Deductible Expenses Count?** When filing your U.S. federal tax return, one of the most important decisions you make is whether to take the standard deduction or itemize your deductions. This choice directly affects how much of your income is subject to tax—and how much you...

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Leonard Pokrovski

added blog Personal Finance
2025-11-20 17:05:44 -

What Is the Difference Between a Tax Deduction and a Tax Credit? Which One Is Better, and How Do They Affect Your Tax Bill?
What Is the Difference Between a Tax Deduction and a Tax Credit? Which One Is Better, and How Do They Affect Your Tax Bill? When tax season arrives, most taxpayers look for ways to reduce what they owe or increase their refund. Two of the most powerful tools that can reduce your tax liability are tax deductions and tax credits. Although people often use these terms interchangeably, they work...

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Leonard Pokrovski

added blog Personal Finance
2025-12-24 18:14:00 -

What Tax Advantages Come with Charitable Donations?
What Tax Advantages Come with Charitable Donations? Itemizing vs. Standard Deduction, Donor-Advised Funds, and Charitable Strategies Charitable giving is widely recognized as both a socially meaningful act and a financially smart one. For many donors, the decision to give is driven first by purpose: supporting causes they care about. But when tax season arrives, it’s worth understanding...

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