Category: Financial Literacy

What are tax credits, and how do they apply to me?

Tax credits, reducing the amount of tax owed, can relieve the stress of tax season and save money for individuals and businesses. Available at various levels, they motivate beneficial behaviors and come in many types, like child tax credit, earned income tax credit, education tax credits, residential energy efficient property credit, and small business health care tax credit. Consulting a tax professional or using tax preparation software aids optimal tax credit utilization.

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