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Reply #1: In most cases a tax credit is a dollar for dollar reduction of your tax liability. [View All]

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Home » Discuss » Topic Forums » Economy

county worker

(1000+ posts) Send PM | Profile | Ignore

Thu May-07-09 05:34 PM
Response to Original message

1. In most cases a tax credit is a dollar for dollar reduction of your tax liability.

Some credits like the earned income credit do not require any tax liability. I am not sure about the current tax credits for energy.

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-Can someone explain what a Federal Tax Credit is?	NNN0LHI	May-07-09 05:29 PM	#0
- In most cases a tax credit is a dollar for dollar reduction of your tax liability.	county worker	May-07-09 05:34 PM	#1
- Some credits are refundable others are limited to tax liability.	quiller4	May-07-09 05:50 PM	#2
- 30% of total cost credit on ground source heat pumps	IADEMO2004	May-07-09 06:05 PM	#3
- It allows you to deduct 30% of what you paid	notesdev	May-07-09 09:30 PM	#4
- Tax credit versus tax deduction	YewNork	May-20-09 06:37 AM	#5

Home » Discuss » Topic Forums » Economy

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