Tax Credit

Business / Real Estate / Tax Credit: An amount by which tax owed is reduced directly.

Other Words for Credit

Credit Verb Synonyms: ascribe, acknowledge, attribute, assign, impute
Credit Noun Synonyms: belief, faith, trust, credence
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Other Words for Tax

Tax Noun Synonyms: assess, exact, demand, charge, impose or levy a tax (on), tithe
Tax Adjective Synonyms: levy, impost, duty, tariff, assessment, tribute, toll, excise, customs, charge, contribution, scot, tithe, octroi, cess, rate(s), dues
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Earned Income Credit (EIC)

Business / Taxes / Earned Income Credit (EIC): The earned income tax credit (EIC) reduces the income tax of that certain low-income taxpayers would otherwise owe. It’s a refundable credit, so if the tax that’s due is less than the amount of th MORE

Tax Deduction

Business / Accounting / Tax Deduction: An expense that a taxpayer can subtract from taxable income. Examples include deductions for home mortgage interest and for charitable gifts. (See Tax Credit, Tax Exemption.) Tax Deferred Investments MORE

Tax Exemption

Business / Accounting / Tax Exemption: An amount that a taxpayer who meets certain criteria can subtract from taxable income. Examples include exemptions for each dependent or for life insurance proceeds. (See Tax Credit, Tax Deduction.) MORE

Net Tax Liability

Business / Accounting / Net Tax Liability: The amount of tax computed by subtracting tax credits from the gross tax liability. MORE

Hope Scholarship Credit

Business / Taxes / Hope Scholarship Credit: You may qualify for a Hope scholarship tax credit for money you spend on qualified educational expenses for yourself, your spouse, or a dependent child. To qualify, the student must be enrolled at lea MORE

Lifetime Learning Credit

Business / Taxes / Lifetime Learning Credit: You may qualify to claim a lifetime learning tax credit of up to $2,000 each year for qualified higher educational expenses for yourself, your spouse, or a dependent if your family’s modified adjust MORE

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