New Tax Credits and Deductions for 2022, 2023

newtaxcredits
Published on Feb 8, 2023
American Tax Service
https://americantaxservice.org/new-tax-deductions/
Do you want to reduce your tax bill this year? You can maximize your tax savings by checking to see if you’re eligible to claim any of the new expanded tax credits. The difference between a tax credit and a deduction is a deduction reduces your taxable income, whereas credits reduce the amount of tax you pay directly. We’re going to look at how much seven of the big tax credits are worth.