the Polo Grounds

Back to the forum index
Open in thread

Credit vs deduction

by jcocktoaston, Monday, December 04, 2017, 08:56 @ Grantland

I apologize in advance if I am telling you things that you already know as I am unsure of your background but a credit is a dollar for dollar reduction in tax while a deduction just lowers taxable income. While I am not opposed to what you are suggesting, a credit would be extremely favorable to the taxpayer as the credit would be basically worth 3x as much for a top rate taxpayer as even a full expense deduction.

Your point is certainly correct that a simpler tax code means fewer attempts at social engineering via tax policy for better or worse.


Complete thread:


381143 Postings in 33112 Threads, 204 registered users, 102 users online (2 registered, 100 guests)
powered by my little forum