When preparing your taxes a tax credit can help you to reduce the amount of taxes that you owe.
A tax credit can be referred to as an item that is used directly to reduce what someone has to pay as taxes in a year. The tax credit helps by decreasing a person's tax liability.
The tax credit could be automatically gotten or it could be claimed. Tax deductions can also be used to reduce the amount that a person earns just before they calculate their taxes.
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