Video: The Difference Between a Tax Credit and Tax Deduction.
In general, a deduction reduces taxable income, whereas a credit reduces the tax itself. Learn more.
Videos & Info Graphics
Tax Credit
Earned Income Tax Credit: Used, Abused and Altered
Any discussion of the earned income tax credit (EITC) needs to begin with a discussion of why Congress created it in the first place. It has a twofold purpose:
Videos & Info Graphics
Video: Check Out These Tax Benefits for Going Green
Congress uses tax deductions and tax credits to influence taxpayersâ actions. Learn more about some options that might save you on your taxes.
Tax Central
Electric Vehicle Credit on the Decline
Back in 2009 Congress created a tax credit for the purchase of electric vehicles as a stimulus for car companies to manufacture “green” vehicles and
Tax Central
The Tax Benefits of Going Green
Congress uses tax deductions and tax credits to influence taxpayers’ actions. For instance, it seeks to stimulate taxpayers to reduce their energy consump
Tax Central
Some Electric Vehicle Credits Are Phasing Out!
The IRS recently announced that the tax credit for purchasing the popular Tesla is being phased out and that the credit will drop to $3,750 after December 31, 2
Disabled Taxpayer Tax Benefits
Taxpayers with disabilities may qualify for a number of tax credits and other tax benefits. Parents of children with disabilities may also qualify. Listed below
It’s Almost Summer – Who is Caring For The Kids When You Work?
It is almost summertime. Have you figured out what to do with the kids while they are out of school and you are at work? There are possibilities that may qualif
Year-End Tax Planning and Maximizing the Education Tax Credit
Year-End Tax Planning and Maximizing the Education Tax Credit