Respuesta :
tax credits provide dollar for dollar reduction of the persons income. meaning $1,000 tax credit saves $1,000 taxes.
Tax deductions lower taxable income and then they equal the % of the persons marginal tax bracket
Tax deductions lower taxable income and then they equal the % of the persons marginal tax bracket
Answer:
Tax credits provide dollar for dollar reduction of the persons income. meaning $1,000 tax credit saves $1,000 taxes. Tax deductions lower taxable income and then they equal the % of the persons marginal tax bracket.
Step-by-step explanation:
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