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What is an Itemized Deduction?

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An itemized deduction is an incurred expense which reduces an individual's taxable income, in accordance with IRS regulations. Itemized... Read Now

What is a Joint Account?

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A joint account is any account owned by two or more people.   See Also: Your DIY Financial Planning Guide 10 Questions to Ask a Financial... Read Now

What is a Liability?

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A liability is a legally-binding obligation to settle or pay back a debt. In the case of a company, a liability is recorded on its... Read Now

What is Liquid?

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Liquid is a way to descibe an asset that can be converted into cash quickly with minimal impact to the price received. Liquid assets are... Read Now
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