Your 2021 Guide to Tax Credits

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There are two main ways Americans can save money on their taxes -- tax deductions and tax credits. And here's the big difference: Tax deductions reduce the amount of income that is subject to federal income tax, while tax credits reduce the amount of tax you owe, dollar for dollar.

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Original Article Source Credits:    The Motley Fool , https://www.fool.com/

Article Written By:  Matthew Frankel, CFP

Original Article Posted on:  Nov 15, 2020

Link to Original Article:  https://www.fool.com/taxes/2020/11/15/your-2021-guide-to-tax-credits/

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