Tax Expert Noel Spencer: Tax Credit


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  • Noel Spencer



What is a Tax a Credit, and what are the various credits an individual can use?


Subtract tax credits from the amount of tax you owe. There are two types of tax credits:

• A nonrefundable tax credit means you get a refund only up to the amount you owe.

• A refundable tax credit means you get a refund, even if it's more than what you owe

• Education credits

• Retirement Savings contributions credit

• Residential Energy Credits

• Other Credits (Form 3800)

• Earned Income Tax Credit

• Child and Dependent Care Credit

• Adoption Credit

• Child Tax Credit

• Credit for the Elderly or Disabled

Noel Spencer
735 Broadway, Newburgh, NY 12550
845-220-2080
Ask Noel Spencer a Question
www.spencersfinancial.com




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