Ask Question
MathematicsMathematics
9 August, 04:27

What is the difference between a tax credit and a tax deduction?

+1
Answers (1)
  1. 9 August, 07:42
    0
    Tax credits provide dollar for dollar reduction of the persons income. meaning $1,000 tax credit saves $1,000 taxes.

    Tax deductions lower taxable income and then they equal the % of the persons marginal tax bracket
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “What is the difference between a tax credit and a tax deduction? ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Linda had 98 fliers to post around town. Last week, she posted 2/7 of them. This week, she posted 3/7 of the remaining fliers. How many fliers has she still not posted?
Answers (2)
Joey's sock drawer is unorganized and contains 3 black dress socks, 5 black ankle socks, 7 brown dress socks, and 6 brown ankle socks.
Answers (1)
Luca packed 5 shirts and 2 pairs of pants for a two-day trip. If he keeps the same ratio of shirts to number of days, how many shirts should he pack for a twelve-day trip?
Answers (1)
Compare the value of 2in 2783 and 7283
Answers (1)
The second of two numbers is is 3 less than twice the first. Their sum is 42. Find the numbers.
Answers (1)
New Questions in Mathematics
William's salary is £24 000 His salary increases by 4%. Work out William's new salary. £ ...
Answers (1)
What is the lenth of 10
Answers (1)
What is factor give 63
Answers (2)
A number is shown in word form. "Three hundred thirteen thousand, one-hundred sixty" What is the number in expanded form?
Answers (1)
2.80=9 (70) / I. I need a answer for i
Answers (1)
Home » Mathematics » What is the difference between a tax credit and a tax deduction?
Sign Up Forgot Password?