The Truth About Tax Credits and Deductions

by S. Kay Bell

Pearson Education | July 29, 2010 | Kobo Edition (eBook)

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This is the eBook version of the printed book.

This Element is an excerpt from The Truth About Paying Fewer Taxes (9780137153862) by S. Kay Bell. Available in print and digital formats.

 

What you need to know about tax credits, deductions, and the difference between them.

 

A tax credit is a dollar-for-dollar benefit. It’s applied to your final IRS bill, so you get money back or don’t have to pay Uncle Sam as much. A tax deduction, however, reduces the taxable income your final tax bill is based on. That usually means a smaller bill, but generally not by as much. You can get an idea of the value of credits by....

Format: Kobo Edition (eBook)

Published: July 29, 2010

Publisher: Pearson Education

Language: English

The following ISBNs are associated with this title:

ISBN - 10: 0132478382

ISBN - 13: 9780132478380

Found in: Personal Finance

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Kobo eBookThe Truth About Tax Credits and Deductions

The Truth About Tax Credits and Deductions

by S. Kay Bell

Format: Kobo Edition (eBook)

Published: July 29, 2010

Publisher: Pearson Education

Language: English

The following ISBNs are associated with this title:

ISBN - 10: 0132478382

ISBN - 13: 9780132478380

From the Publisher

This is the eBook version of the printed book.

This Element is an excerpt from The Truth About Paying Fewer Taxes (9780137153862) by S. Kay Bell. Available in print and digital formats.

 

What you need to know about tax credits, deductions, and the difference between them.

 

A tax credit is a dollar-for-dollar benefit. It’s applied to your final IRS bill, so you get money back or don’t have to pay Uncle Sam as much. A tax deduction, however, reduces the taxable income your final tax bill is based on. That usually means a smaller bill, but generally not by as much. You can get an idea of the value of credits by....