Friday, January 22nd, 2010
does having a tax credit get you more money back from your taxes?
Chris T asked:
like having a child tax credit.would that mean you owe less to the government if you have a credit such as one above?
lets say i get 1200 back in taxes from the year.plus 1000 from the child tax credit.would having such credits add more onto this total.since i would have the pay the government less. would i be getting the amount i would have owed the government?
like having a child tax credit.would that mean you owe less to the government if you have a credit such as one above?
lets say i get 1200 back in taxes from the year.plus 1000 from the child tax credit.would having such credits add more onto this total.since i would have the pay the government less. would i be getting the amount i would have owed the government?
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January 22nd, 2010 at 9:32 pm
Yes. A credit is an amount you subtract from the total amount of tax you owe.