A tax deduction simply reduces the amount of income that you must pay tax on. A $1,000 deduction, for example, might reduce your tax bill by only $150 or $200 depending on your tax bracket. A tax credit, however, directly reduces your taxes, dollar for dollar. A $1,000 ta...
TAXometer: How do I claim my dependents on a W4? Dependents on taxes can increase your refund which is why there are manytax fraud cases involving dependents. See details onwhat to do if someone claimed your dependent. File your return ASAP to prevent others from using your dependent's inf...
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