General Investing
  -General information about
  getting started.
Stocks
  -How investing in the stock
  market works
Bonds
  -How bond investing works
Mutual Funds
  -How mutual funds work
Economics
  -A basic intro to the economy
Advanced Investing Topics
  -This section covers topics
   like futures and options

Tax Credit
Term category: Taxes
In 10 words or less: A dollar-for-dollar reduction in a person's tax liability.

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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