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...Income deduction is first available for tax years beginning in 2005. This report is a summary of the terms used and general rules for claiming this new deduction. As this is somewhat complicated, readers are encouraged to discuss how this new deduction may benefit them with their professional tax adviser.
Three steps to success
Claiming the new deduction involves three computations. Congress has created some new tax jargon to describe these computations, so taxpayers will want to become...
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