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Businesses are permitted to deduct a wide range of expenses, but many small business owners may be unaware of the full range of the deductions they are entitled to claim.

Recognizing that eldercare can represent a substantial financial burden for families, the federal government allows taxpayers who provide support to a parent or other adult relative to deduct some of these expenses and claim certain tax credits.

Many taxpayers are searching for ways to recover some of the tax benefits associated with itemizing deductible expenses that have been eliminated.