Tax Credits reduce taxes payable to the same extent for all taxpayers, regardless of their income level and marginal tax rate. Deductions from taxable income, however, are more valuable as your income and tax rate increases.
Barry Goldsmith
| APA | Barry Goldsmith. (2010). tax credit. Retrieved September 30, 2026, from http://smartdefine.org/tax_credit/definitions/1164878 |
| Chicago | Barry Goldsmith. 2010. "tax credit" http://smartdefine.org/tax_credit/definitions/1164878 (accessed September 30, 2026). |
| Harvard | Barry Goldsmith 2010, tax credit, Smart Define, viewed 30 September, 2026, <http://smartdefine.org/tax_credit/definitions/1164878>. |
| MLA | Barry Goldsmith. "tax credit" 21 October 2010. Web. 30 September 2026. <http://smartdefine.org/tax_credit/definitions/1164878> |