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WebSep 22, 2024 · That said, some approaches that can apply to many people include the following: 1. Understand tax credits vs. tax deductions. Both tax deductions and tax … WebMar 22, 2014 · That adds up to $11,000 and thereby reduces your taxable income to $79,000. Here's where the magic comes in. Without this deduction, you would owe $14,358 in taxes for the 2013 calendar year. This ... WebSep 5, 2024 · Compute this by multiplying your earned income that exceeds $2,500 by 15 percent. If you have a qualifying child and your earned income, for example, is $10,000 for the 2024 tax year, multiply ... kids bowl free coupon code 2023