tax credit


The direct dollar-for-dollar reduction of an individual's tax liability; compare with tax deduction, which reduces an individual's tax liability only in proportion to his/her tax bracket.

Use tax credit in a sentence

You may be able to get a strong tax credit and should always have your accountants trying to find ways how.

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I saw what my tax credit was and I immediately tuned out and thought of something else because I did not like the idea.

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Refrigerators are expensive but the good news is, the government offers a tax credit to those who purchase Energy Star rated appliances.

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franked dividend credit for qualified retirement savings contribution