[{"data":1,"prerenderedAt":53},["ShallowReactive",2],{"term:tax-credit":3},{"term":4,"related":44},{"id":5,"title":6,"body":7,"category":27,"description":28,"extension":29,"faq":30,"meta":31,"navigation":32,"path":33,"related":34,"seo":37,"stem":38,"takeaways":39,"__hash__":43},"terms\u002Fterms\u002Ftax-credit.md","Tax Credit",{"type":8,"value":9,"toc":22},"minimark",[10,15,19],[11,12,14],"h2",{"id":13},"understanding-tax-credit","Understanding Tax Credit",[16,17,18],"p",{},"A credit reduces your tax bill dollar for dollar, which makes it more valuable than a deduction of the same amount.",[16,20,21],{},"Refundable credits can produce a refund even if they exceed the tax you owe; nonrefundable credits can only reduce your tax to zero.",{"title":23,"searchDepth":24,"depth":24,"links":25},"",2,[26],{"id":13,"depth":24,"text":14},"taxes","An amount subtracted directly from the tax you owe.","md",[],{},true,"\u002Fterms\u002Ftax-credit",[35,36],"tax-deduction","effective-tax-rate",{"title":6,"description":28},"terms\u002Ftax-credit",[40,41,42],"A credit cuts your tax bill dollar for dollar.","A $1,000 credit is worth more than a $1,000 deduction.","Refundable credits can create a refund.","kZlO7qQJLVU_YIg1ygGh1tlyhvRi79Mz7puvOVY7BUo",[45,49],{"title":46,"description":47,"path":48},"Effective Tax Rate","The share of your total income that you actually pay in tax.","\u002Fterms\u002Feffective-tax-rate",{"title":50,"description":51,"path":52},"Tax Deduction","An amount subtracted from income before tax is calculated.","\u002Fterms\u002Ftax-deduction",1793374006054]