Tax Credit A dollar-for-dollar reduction in the tax. Can be deducted directly from taxes owed
Tax Avoidance An action taken to lessen tax liability and maximize after-tax income.
Taxable interest income Interest income that is subject to income tax. All interest income is taxable unless specifically excluded.
Standard Deduction Reduces the income subject to tax and varies depending on filing status, age, blindness, and dependency.
Software Developer Develops software for the purposes of (1) formatting electronic tax return information according to IRS specifications, and/or (2)…
Social Security Tax Provides benefits for retired workers and their dependents as well as for the disabled and their dependents.…