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1) Are you renting? Anyone realize your monthly rent is in order to be benefit a different inividual and not you? Sure you get a roof over your head, but that's it! If you can, you need really obtain a house. If you're renting, your rent isn't deductible, but mortgage interest and property taxes remain. In 2003 the JGTRRA, or Jobs and Growth Tax Relief Reconciliation Act, was passed, expanding the 10% income tax bracket and accelerating some among the changes passed in the 2001 EGTRRA.