All categories

1 year ago

Which is more valuable a tax credit or deduction?

1 answer:

5 0

A tax credit will reduce your tax bill more than a tax deduction for the same amount, if all other factors are equal.

<h3>Which is more valuable, tax credits or deductions?</h3>

A tax deduction lowers the amount of your taxable income, which is used to compute your tax responsibility, whereas a tax credit lowers your tax liability dollar for dollar. Because they lower your tax burden by one dollar for every dollar of the credit, tax credits are typically more valuable.

<h3>What distinguishes a tax credit from a tax deduction?</h3>

Dollar per dollar, tax credits lower taxable income. Tax credits are typically more beneficial than tax deductions because they directly and dollar-for-dollar lower a taxpayer's gross tax liability.

To know more about tax credit or deduction visit:-

brainly.com/question/28265848

#SPJ4

You might be interested in

As accenture explores an end-to-end business flow that has reconciliation between multiple parties, what would we uncover?.

vlabodo [156]

As Accenture explores an end-to-end business flow that has reconciliation between multiple parties system, we would be able to uncover shared state.

Any variable, object, or memory area that resides in a shared scope is referred to as a shared states. Accenture Blockchain and Multiparty Systems specializes in supply chain, digital identity and financial services.

Multiparty systems creates a shared data infrastructure between an individual and an organization that drives efficiency and creates a new business and revenue models. they include blockchain, distributed ledger, distributed database, tokenization and a variety of other technologies and capabilities.

To learn more about Accenture here

brainly.com/question/28169672

#SPJ4

6 0

2 years ago

Jim Smith is a salesman who receives a $1,100 draw per week against his commission. He receives a 12% commission as an incentive

blondinia [14]

Answer:

$29,000

Explanation:

Given that:

Draw per week: $1,100
Commission rate: 12%
Sales for Jim were $205,000 for the month.
4 weeks in a month

Assuming a four-week month, Jim's commission :

Commission on revenue + commission of total draws

= $205,000*12% + 4*$1,100

= $24,600+ $4,400

= $29,000

Hope it will find you well.

3 0

4 years ago

19. Which of the following is the basic purpose of a company's promotional mix:

aksik [14]

Answer:

B. To influence consumers to purchase

Explanation:

8 0

3 years ago

What can be used to keep the hands from becoming chapped and dry because of frequent hand washing?

ziro4ka [17]

You can use hand cream or lotion so your hands don't become chapped or dry.

6 0

4 years ago

T/F A company that uses tight cost controls is likely to use a low-cost leadership strategy.

VMariaS [17]

True, but may also be false depending on what "tight budget" that company wants.

Hope this helps!

8 0

3 years ago