Credit vs. Deduction
November 7, 2013 by admin in category Deductions tagged as Tax credits, Tax Deduction, taxesCredits and deductions are two ways you can receive money back from the IRS on your taxes. A tax deduction is a reduction in taxable income that lowers your bill in a percentage format, dependent on your tax bracket. These deductions are broken into broad categories such as medical expenses, state & local taxes, property […]
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