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Diego, a creative artist living in San Francisco, have recently embarked on a journey to turn their passion for painting into a full-time business. While
Diego, a creative artist living in San Francisco, have recently embarked on a journey to turn their passion for painting into a full-time business. While they're busy creating masterpieces, the world of individual deductions seems like an abstract puzzle they can't quite solve. As Diego's tax accountant, how would you paint a clear picture of individual deductions for them? What are the various brushes and colors in the palette of deductions, such as standard deductions, itemized deductions, and above-the-line deductions? How can they creatively yet legally use these tools to craft their tax return into a work of art, without ending up with a messy financial canvas? Could you also discuss the limitations and potential pitfalls they should be
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