Question: 1. Explain the difference between a tax credit and tax deduction. 2. List two ADJUSTMENTS for lowering a taxpayer's AGI 3. What is the difference

1. Explain the difference between a tax credit and tax deduction.

1. Explain the difference between a tax credit and tax deduction. 2. List two ADJUSTMENTS for lowering a taxpayer's AGI 3. What is the difference between AGI and Taxable Income? 4. Why is reducing AGI considered important? 5. List two advantages of a Roth IRA

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