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Tip of the Day Choose the Right Car Insurance

Choose the Right Car Insurance - Before buying a new car, it is always wise to find out exactly how much coverage you require and only buy enough insurance to...

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Tax Credit

Definition: Tax credits are credits that reduce a person's tax liability by an amount equal to the tax credit.

Advice: Tax credits are great because they reduce your tax liability by an amount equal to the tax credit.  This differs from a tax deduction, which just reduces your taxable income.  Here's an example:

Tax deduction = $1000
Tax credit = $1000

Tax Deduction = $1,000 * 25% = $250 in tax savings
Tax credit = $1,000 = $1,000 in tax savings

 

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Tax credits are great because they reduce your tax liability by an amount equal to the tax credit.

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Tax credits are great because they reduce your tax liability by an amount equal to the tax credit.

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Definition of the Day Marketability

Marketability - Marketability is securities that convert easily into cash. Such securities will generally have high liquid markets allowing the security to sell at a reasonable price very quickly. Security is a fungible, transferable instrument representing financial value. Securities broadly categorized into debt securities, such as bonds and debentures, and...

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