Answered

At Westonci.ca, we provide clear, reliable answers to all your questions. Join our vibrant community and get the solutions you need. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.

A tax credit is an amount of money the government allows you to subtract from your taxable income.

A. True
B. False

Sagot :

GinnyAnswer

Final answer:

Tax credits are government-provided reductions in taxable income that can lead to tax refunds in some cases.


Explanation:

Tax credits are amounts of money allowed by the government to be subtracted from taxable income. This reduces the amount of tax owed and can even result in a tax refund if the credits exceed the tax liability. For example, the Earned Income Tax Credit provides a supplement for each dollar of income earned by low-income individuals.


Learn more about Tax credits here:

https://brainly.com/question/43569241


We appreciate your time. Please revisit us for more reliable answers to any questions you may have. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. We're glad you chose Westonci.ca. Revisit us for updated answers from our knowledgeable team.