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Make sure you know about all the tax deductions and tax breaks you are entitled to take on your personal income tax return. You can save a lot of money at tax time by learning about the valuable tax deductions, tax credits, and other tax breaks that are available to you. No one is going to tell you if you miss deductions or credits that you could have taken. You need to learn what is available so you don't pay more to the IRS than you need to.