Below you'll find a list of all posts that have been tagged as “tax deduction”
As tax professionals, we often get asked about tax credits and tax deductions. Some people assume they are the same thing, but they are not. A tax deduction reduces your taxable income while tax credits provide a dollar-for-dollar reduction to your income tax liability. Which means tax credits are worth …
Many businesses donate to charitable/non-profit organizations throughout the year, so they can write off the contributions on their taxes. It’s a wonderful way to support causes and organizations you care about, and have a tax deduction. But, if not done properly on the correct tax forms, that money won’t get …
