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These deductions are at risk of being permanently reduced — if not eliminated.
Perhaps the best-known campaign promise made by President Donald Trump is extending the tax cuts that started during his first term. A federal law created in 2017, called the Tax Cuts and Jobs Act, lowered federal income taxes in various ways, but most were temporary. Some key tax breaks are set to expire after this year — unless Congress acts. Such action is what Trump promised while…
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