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FAQS
Gather W-2s, 1099s, proof of deductions, and other relevant financial documents. Be prepared with your Social Security number and any additional information required for credits or deductions.
It depends on your financial situation. Simple returns may be done independently, but complex scenarios benefit from professional expertise. Consider factors like income sources, deductions, and changes in your life circumstances.
A tax deduction reduces your taxable income, while a tax credit directly reduces the amount of taxes you owe. Deductions lower your taxable income, and credits provide a dollar-for-dollar reduction in your tax liability.