Tax deductions are expenses that reduce the amount of income
subject to tax.
There are two types of deductions most taxpayers will qualify
In addition to these two types of deductions, there are also
deductions available to taxpayers who take either the standard
deduction or who itemize deductions.
There are over 50,000 tax deductions in tax code and
regulations. Many of these deductions apply to individuals as well
as businesses. The most common deductions include: