What is another word for tax credit?

Pronunciation: [tˈaks kɹˈɛdɪt] (IPA)

Tax credits are a valuable part of the tax code, allowing taxpayers to reduce their tax liability while receiving benefits for certain expenses. The term "tax credit" can be used synonymously with terms such as tax relief, tax break, tax deduction, and tax rebate. Tax relief refer to any measure that reduces a taxpayer's liability, including tax credits or deductions. A tax break implies a reduction or total removal of taxes for a certain period. Tax deductions refer to a reduction in taxable income, while tax rebates refer to a refund of tax that has been overpaid. Overall, whatever the term used, tax credits offer an attractive option for reducing tax liability and incentivizing desired behavior.

What are the hypernyms for Tax credit?

A hypernym is a word with a broad meaning that encompasses more specific words called hyponyms.
  • Other hypernyms:

    tax relief, economic incentive, fiscal incentive.

What are the hyponyms for Tax credit?

Hyponyms are more specific words categorized under a broader term, known as a hypernym.

Famous quotes with Tax credit

  • In providing this $5,000 tax credit for those purchasing rural homes, we're offering an important incentive to encourage people to live in smaller communities - and perhaps even stay in a community they might be considering leaving.
    John M. McHugh
  • More than 1.1 million taxpayers in Pennsylvania will enjoy a lower tax rate, more than 1.4 million married couples will benefit from the reduction in the marriage penalty, and more than 1.1 million parents will have the advantage of an increased child tax credit.
    Tim Murphy
  • Legislation to create a new 10 percent tax bracket, reduce the marriage penalty, cut the tax rate on dividends and capital gains, and increase the child tax credit have been essential elements in this economic expansion.
    Roger Wicker

Related words: tax credit for homebuyers, 2018 tax credit, homebuyer tax credit, 2018 tax credit for homebuyers, tax credit for first time home buyers, tax credit for buying a new home

Related questions:

  • Is there a tax credit for first time buyers?
  • What is the 2018 tax credit?
  • What is the 2019 tax credit?
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