tax credit
Definition
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.
 Cite this definition
Related Terms
credit, enterprise zone, Unified Tax Credit, earned income tax credit, education credit, Hope credit
'tax credit
' appears in the definitions of these terms on BusinessDictionary.com
net tax liability, value recovery provision
Related Research Articles from the InvestorGuide.com University
Taxes and Your RetirementIt's always a good idea to plan for the future. Learn about the taxes associated with social security, pensions, annuities, 401(k) plans, and IRAs. 
TaxesDo you pay too much in taxes? Here we describe the basics of taxes and provide tips for legally reducing your tax burden, including knowing the laws, keeping good records, planning year-round rather than just in April, and contributing to a retirement plan like a 401(k) or IRA.
Taxes and Your BusinessFind about how taxes affect corporations, home businesses, sole proprietorships, partnerships, limited liability partnerships and non-profit corporations.
Featured Sponsor
Start earning $200 to $900 a day working at home. No experience necessary. Money-back guarantee.
|
