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Sep 16, 2024
4:32:57pm
notsofast All-American
Yes, tax credit is a reduction of your tax liability or a larger refund.
A tax deduction is different in that it only helps you get a larger refund or less obligation at your marginal tax rate (e.g. 15% or 22% or whatever %) multiplied by the deduction.
notsofast
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notsofast
Joined
Sep 11, 2006
Last login
Sep 18, 2024
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11,017 (73 FO)