How do Tax Deductions Work for 2010, 2011
For starters, deductions offset income. They do not directly offset the tax. Tax credits, on the other hand, are a direct offset to the tax itself. Credits, therefore, save you more money, but credits are unique and rare. They are only given for items the government finds particularly deserving, child care is one example.
Learn More Here: http://hubpages.com/hub/How-do-Tax-Deductions-Work
Learn More Here: http://hubpages.com/hub/How-do-Tax-Deductions-Work
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| Categories: | how tax deductions work |
| Added: | on Apr 19, 2010 |
| Added By: | tsmith2724 |
| Searches: | tax deduction work credit offset |
