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

What is the posterior and anterior opening of the digestive tract called?
12g of Pottasium sulphate dissolves in 75g of water at 60°C. What is the solubility at that temperature?
What substance would have the slowest speed of passage across a selectively permeable membrane?
Brian is repairing an old alarm clock. He needs to replace a device that converts the electric energy into sound energy. Which of these devices should he use? A
What event happened after the Qin Dynasty collapsed? Lu Bang abandoned Legalism. Wu Di appointed his grandson emperor. A civil war broke out. The Great Wall w
Help please!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!Which formula can be used to describe the sequence?
I have a pattern in each sequence what are the next two terms of each sequence 2 4 8 16
contrast the governing of the defeated nations of world war 2 by the two military superpower nations
What is the name of the river that seperates part of washington with orgeon?
How does imperialism benefit colonized people according to beveridge