What is the difference between a tax credit and a tax deduction?
a.
A tax credit represents money owed to you, while a tax deduction represents money you owe.
b.
A tax credit reduces the amount of money you must pay, while a tax deduction reduces your taxable income.
c.
A tax credit is owed money that collects interest, while a tax deduction is money that you do not have to pay.
d.
A tax credit occurs if you underpaid during the year, and a tax deduction occurs if you overpaid.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “What is the difference between a tax credit and a tax deduction? a. A tax credit represents money owed to you, while a tax deduction ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
What is the value of thi expression when d=3? 7d2+10= A: 63 B: 52 C: 31 D: 73
Answers (2)
Why can't a vertical line intersect a function more than once?
Answers (2)
Write a word problem with 36:4
Answers (1)
What is the initial value of the function represented by this table? x y 0 3 1 5 2 7 0 2 3 5
Answers (1)
Select true or false to tell whether the following conditional p q is true or false. Use the truth table if needed. If dogs have five legs, then cats have three tails. True False
Answers (1)
New Questions in Mathematics
find the total cost of a $55.00 dinner bill including 7% tax and 18% tip. how much change will you get back from $100.00
Answers (1)
The number 4.124 has two 4s. Why does each 4 have a different value?
Answers (1)
What is 3/10-2/5= Is it 1/2?
Answers (2)
Solve for x 4x - 4 < 8
Answers (2)
A zoo has 151515 Emperor penguins. The Emperor penguins make up 30%, percent of all the penguins at the zoo. How many penguins live at the zoo?
Answers (2)