The actual amount of the tax credit can depend on your income, your qualifications for the tax credit, and the nature of the tax credit itself. [title] Compare tax credits to deductions and exemptions.
[header] How to calculate tax credits [title] Understand what tax credits are. [step] Tax credits are an amount of money that you can take off of the amount of taxes that you owe in a given year. These reductions in tax burden are offered by the government to people who meet specific criteria, like low-income homeowners or those who make an effort to use green energy.