VIDEO2:4702:47
Tax credits vs deductions: Here's the difference
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Tax credits vs deductions: Here's the difference

Tax deductions and tax credits are basically the same thing, right? No they are not! While both deductions and credits can lower your overall tax bill, they do it in very different ways. We explain the differences between the two, and why both are worth looking out for this tax season.
02:47
Tue, Jan 28 20203:26 PM EST