Santa Monica College Deductions and Financial Planning Questions
Question Description
1. Ralph and Diane Hearst have been notified that they are being audited. What should they do to prepare for the audit? (10 points)
Submit a response to the following (20 points):
2. Create a list of the deductions that you are eligible for this year, those that might apply in your financial planning timeline 5 years from now, and those that might apply 10 years from now. How can awareness of your eligibility for deductions impact your long-term financial planning?

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