Author(s): Mensah Attah
Tax deductions play a vital role in reducing taxable income and ultimately lowering tax liability for individuals and businesses. This article offers a comprehensive guide to understanding and maximizing tax deductions, covering the types of deductions available, eligibility requirements, and strategic tips for claiming deductions effectively. From common deductions for homeownership and education to often-overlooked deductions for medical expenses and charitable contributions, this guide provides practical advice for taxpayers. By taking advantage of these deductions, taxpayers can improve their financial outcomes and make informed decisions that support their tax-saving goals