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Tax Depreciation
The allocation of an asset's cost over its useful life for the purposes of tax deductions, according to IRS rules and schedules.
Book Depreciation
The method of calculating the depreciation of an asset for record-keeping and tax purposes.
Tax Rate
The rate at which a person or company's earnings are taxed.
Municipal Bond Interest
The interest income received from bonds issued by local or state governments, often exempt from federal income tax and sometimes from state and local taxes.
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