What is best: a tax deduction or a tax credit?

Answer On One Hand: Tax Deductions May Save You MoneyA tax deduction and a tax credit can save you money from your annual income tax, but they do it in completely different ways. A tax deduction only all... Read More »

Top Q&A For: What is best: a tax deduction or a tax credit

Who eliminated tax deduction for credit card interest?

The 1986 Tax Reform Act eliminated American consumers' ability to claim credit card interest as a valid tax deduction. The act was passed by Congress and signed into law by Ronald Reagan.References... Read More »

Will canceling credit cards with high available credit hurt my credit score?

Closing a credit card with a high available credit limit will lower your available credit, as well as remove some of your credit history. Typically, it does lower a borrower's credit score, althoug... Read More »

What kind of credit card can i get to build my credit if i have bad credit?

There are a few very good options to rebuild your credit. By obtaining credit that is attainable to those with poor credit and paying on time for an extended period of time, your credit will slowly... Read More »

What Can Be Used as a Tax Deduction?

Thousands of taxpayers do not get the full tax refund that they are entitled to each year. Overlooked income tax deductions are among the biggest reasons for this. Get the refund you deserve by mak... Read More »