0
Anonymous Posted 16 years ago
Vocabulary
Tax Credit
" .... If you buy this highly efficient air conditioning unit by the end of this year, you receive tax credit of $1,500 at the maximum."
Hello. I have two questions: Is the sentence above correct? And, what on earth does this mean, "to receive tax credit"...?
I appreciate any input, thank you in advance.
Hello. I have two questions: Is the sentence above correct? And, what on earth does this mean, "to receive tax credit"...?
I appreciate any input, thank you in advance.
Top answer
" .. " A tax credit means you pay less on your income. If you earned $40,000, a $1,500 credit will mean you pay taxes as if you had earned $38,500.
- " ..
- " A tax credit means you pay less on your income.
- If you earned $40,000, a $1,500 credit will mean you pay taxes as if you had earned $38,500.
Get the Weekly English Kit 📬
New words, one handy idiom, and a 2-minute quiz — delivered to your inbox to keep your streak alive.
2 Answers
0
" .. If you buy this highly efficient air conditioning unit by the end of this year, you will receive a tax credit of up to $1,500."
A tax credit means you pay less on your income. If you earned $40,000, a $1,500 credit will mean you pay taxes as if you had earned $38,500.
A tax credit means you pay less on your income. If you earned $40,000, a $1,500 credit will mean you pay taxes as if you had earned $38,500.
00
Mr. Vorpar, thank you so much! For the correction and for your clear explanation with a example.
So, when you get a tax credit, you file it with income tax return form, and you will get more tax return. That is good to know
So, when you get a tax credit, you file it with income tax return form, and you will get more tax return. That is good to know
0
Related Questions