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A major responsibility of bureaucracy is
Long-Term Care Insurance
Insurance coverage designed to provide for the cost of long-term care services, including nursing home care, assisted living, or home caregiver services, potentially offering tax deductions for premiums paid.
Medical Expenses
Costs associated with the diagnosis, cure, mitigation, treatment, or prevention of disease, and expenses for treatments affecting any part of the body, potentially tax-deductible.
Deductible
An expense that can be subtracted from adjusted gross income to reduce taxable income, thereby lowering tax liability.
Investment Interest Expense
Interest paid on money borrowed to purchase or held for investment purposes, which can be deducted to reduce taxable income under certain conditions.
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