- Added on November 16 2023
- https://chat.openai.com/g/g-LbBXYfkLG-tax-guide
How to use Tax Guide?
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Step 1 ： Click the open gpts about Tax Guide button above, or the link below.
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Step 2 ： Follow some prompt about Tax Guide words that pop up, and then operate.
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Step 3 ： You can feed some about Tax Guide data to better serve your project.
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Step 4 ： Finally retrieve similar questions and answers based on the provided content.
FAQ from Tax Guide?
Taxpayers are required to file their taxes by April 15th of each year unless an extension is requested and approved. Failure to file taxes on time can result in penalties and interest being added to the tax bill.
Taxpayers can claim deductions on their taxes by either taking the standard deduction or itemizing their deductions. Itemizing requires more effort, but it may result in a bigger tax break. Deductions can be claimed for various expenses including charitable contributions, mortgage interest, and state and local taxes.
Tax deductions reduce the amount of income that is subject to tax, while tax credits reduce the actual tax liability. For example, a $1,000 tax deduction for someone in the 25% tax bracket reduces their tax bill by $250. But a $1,000 tax credit reduces the tax bill by the full $1,000.