BUISENESS MANAGEMENT
TAXES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Credits you may be able to deduct from your tax include, but are not limited to, child and dependent care, education, mortgage interest, residential energy, retirement savings contributions, and adoption.
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tax credit
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tax multiplier
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tax income
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tax subtraction
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Explanation:
Detailed explanation-1: -Tax credits reduce the amount of income tax you owe to the federal and state governments. Credits are generally designed to encourage or reward certain types of behavior that are considered beneficial to the economy, the environment or to further any other purpose the government deems important.
Detailed explanation-2: -Tax credits and deductions can change the amount of tax you owe so you pay less. Credits can reduce the amount of tax you owe. Deductions can reduce the amount of your income before you calculate the tax you owe.
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