10 Tax Breaks for the Rich

High-income folks are painfully aware that many valuable tax breaks are phased-out (reduced or eliminated) as income climbs up the ladder. Examples include personal and dependent exemption deductions; higher-education tax credits; deductions for traditional IRA contributions; and deductions for home mortgage interest, state and local income and property taxes, and charitable donations. As a result, high-income individuals may be completely or partially ineligible for tax goodies that others take for granted.

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