Question: What is the difference between a tax credit and a tax deduction? Select all that apply. A tax deduction reduces your taxable income; a tax

What is the difference between a tax credit and a tax

What is the difference between a tax credit and a tax deduction? Select all that apply. A tax deduction reduces your taxable income; a tax credit directly reduces the amount of taxes you owe Some tax credits are refundable, whereas tax deductions are never refundable. A tax credit reduces your taxable income; a tax deduction directly reduces the amount of taxes you owe Tax credits always save you more than tax deductions

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