what is the difference between a tax credit and a tax deduction?\na tax credit represents money owed to you…

what is the difference between a tax credit and a tax deduction?\na tax credit represents money owed to you, while a tax deduction represents money you owe.\na tax credit reduces the amount of money you must pay, while a tax deduction reduces your taxable income.\na tax credit is owed money that collects interest, while a tax deduction is money that you do not have to pay.\na tax credit occurs if you underpaid during the year, and a tax deduction occurs if you overpaid.

what is the difference between a tax credit and a tax deduction?\na tax credit represents money owed to you, while a tax deduction represents money you owe.\na tax credit reduces the amount of money you must pay, while a tax deduction reduces your taxable income.\na tax credit is owed money that collects interest, while a tax deduction is money that you do not have to pay.\na tax credit occurs if you underpaid during the year, and a tax deduction occurs if you overpaid.

Answer

Breve explicación:

Un crédito fiscal es una reducción directa en el monto del impuesto que se debe pagar. Una deducción fiscal reduce la renta imponible, lo que a su vez puede reducir el monto del impuesto payable dependiendo de la tarifa impositiva aplicable.

Respuesta:

B. A tax credit reduces the amount of money you must pay, while a tax deduction reduces your taxable income.