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 Tax Credits and Deductions for Individual TaxpayersTax Credit Programs MarylandTax Credits and Deductions for Individual Taxpaye 2020

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hello and welcome to the session in which we'll explain the difference between tax credits and tax deductions what are tax credit and tax deduction there are different tools different mechanism that Congress it doesn't have to be the Congress it can be the the government in that particular country they can utilize they can use they can deploy to reduce a taxpayer overall tax liability so why would the government create credits and deductions if they want to reduce your tax liability why don't they just reduce your tax rate isn't that easier well the reason the government uses tax credits and tax deduction is to encourage certain Behavior so the government wants you to do certain things how would what would they do they create incentives how do they create incentives they create what's called tax credits and tax deduction for example for education purposes if they want you to attend schools they will create either a credit or a deduction or both f

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