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Alimony Deduction
A tax deduction that allows individuals to subtract alimony payments made to a former spouse from their taxable income.
Cash Payments
Financial transactions involving the transfer of currency or check from buyer to seller without the use of credit.
Dependent Child
A child who meets certain IRS criteria allowing a taxpayer to claim them for tax benefits.
Self-Employment Tax
A financial obligation made up of Social Security and Medicare fees, chiefly for people who are in self-employment.
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