What does "tax deductible" mean?

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What does "tax deductible" mean?

John Stoller, CPA (Certified Public Accountant) gives expert video advice on: What are "income taxes"?; What is the "IRS"?; What are "tax-favored investments"? and more...

Tax deductible means you've spent money on something that you can rightfully claim a tax deduction for.

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