You'll need to sign in or create an account to connect with an expert.
You do not pay deductions and it is not money you get. Deductions reduce the amount of taxable income you owe taxes on.
For example:
So by reducing the amount you are taxed on, you will (typically) receive a bigger refund or owe less taxes.
You do not pay deductions and it is not money you get. Deductions reduce the amount of taxable income you owe taxes on.
For example:
So by reducing the amount you are taxed on, you will (typically) receive a bigger refund or owe less taxes.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Agately
New Member
rogersdan164
Level 1
KarenL
Employee Tax Expert
JENNYKOBERNIK
New Member
mjbrown37
New Member