kerla33 kerla33
  • 09-11-2020
  • Mathematics
contestada

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

Respuesta :

rascalmath
rascalmath rascalmath
  • 09-11-2020

Answer:

A deduction can only lower your taxable income and the tax rate that is used to calculate your tax. This can result in a larger refund of your withholding. A credit reduces your tax giving you a larger refund of your withholding, but certain tax credits can give you a refund even if you have no withholding.

Step-by-step explanation:

Answer Link

Otras preguntas

Is there an object that can lift a 45-N object
What does each fruit symbolize in Esperanza rising?
What are the formula to calculate applied force?
Which equation supports the given conjecture? The sum of the squares of two consecutive integers is an odd integer. A. (2 + 3)2 B. 32 + 52 = 34 C. 4 + 52 =
How do you solve -x +y=-5 -3x+4y=-12
Which best describes the role of viceroys in Spain's American empire? A. Viceroys watched over the king's lands, increased his wealth, and carried out his wil
half of Robert's piece of wire is equal to 2 thirds of Maria's wire. The total lenght of their wire is 10 feet. How much longer is Robert's wire than Maria's?
The Diary of Anne Frank. List the conflicts that have developed among the characters by the end of act 1 scene 3. Why are these conflicts dangerous for the peop
why did the Spartans fear the Messenians
How did most colonists earn a living?
good job