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Life Insurance Premiums
The payments made to an insurance company in exchange for life insurance coverage, which can sometimes be tax-deductible.
Standard Deduction
A fixed amount that reduces the income subject to tax, available to taxpayers who do not itemize deductions.
Dependent
A person who relies on another, usually a family member, for financial support and qualifies for certain tax benefits.
Part-Time Job
Employment with fewer hours per week than a full-time job, often offering less benefits and lower wage compared to full-time positions.
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