5/17/2023 0 Comments What are credits on nbc appBefore you file your return, here are some tax credits you may want to review. Some tax credits apply to a huge swath of the population, while others are specialized to incentivize specific economic activity. “It’s a full recoupment of taxes you’d otherwise have to pay.” “With a credit, you get a 100% benefit,” says Andrew King, vice president of tax policy and research at Goldman Sachs Ayco Personal Financial Management in Cohoes, New York. The result can mean hundreds of dollars knocked off your bill - or added to your refund. Unlike a deduction, which decreases the income on which you’ll be taxed, a tax credit reduces your overall tax due. ![]() ![]() ![]() A tax credit is among the most satisfying benefits you can turn up when preparing your return.
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