Tax credits help businesses save money on taxes. It is important to distinguish between tax credits and tax dedications. Tax deductions are designed to reward certain business behaviors by reducing taxable income. Credits however are dollar-for-dollar reduction of the final tax liability, i.e. credit on tax you owe.

Here are some great resources where you can learn about deductions and tax credits:

Business and self employed – Deducting business expenses – Learn More

Earned Income Tax Credit – Learn More

Payment Plan – Learn More