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2. You should know the difference between tax deduction and tax credit so that you can take your decision on the same basis.
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3. How do you itemize the standard deduction?
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4. There is a need to keep a close watch on your popular tax deductions and credits, if they are getting more then there is a need to take action on them.
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5. You should know which tax records you have to keep.
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6. Check whether your strategy is sufficient to shelter or cut your tax bill.
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Next steps