Posted on Oct 3, 2018

CPS Accounting and ITIN Services

What Is a Tax Credit?
Subtract tax credits from the amount of tax you owe. There are two types of tax credits:

A nonrefundable tax credit means you get a refund only up to the amount you owe.
A refundable tax credit means you get a refund, even if it's more than what you owe.
What Is a Tax Deduction?
Subtract tax deductions from your income before you figure the amount of tax you owe.

Business Taxpayers
Find credits and deductions for businesses

Credits for Individuals
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Family and Dependent Credits
Income and Savings Credits
Homeowner Credits
Health Care Credits
Education Credits
Deductions for Individuals
Work Related Deductions
Itemized Deductions
Education Deductions
Health Care Deductions
Investment Related Deductions
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