Tax CREDITS vs Tax DEDUCTIONS! [2023]

It's the showdown of the century! Okay, not really. But understanding the difference between tax credits and tax deductions could save your business a lot of money each year...
💡What is a tax credit? and what is a tax deduction?
💡How can you claim for tax credits?
💡How can you claim for tax deductions?
🔵 And much more!
Want to see our playlist on tax advice for LLC's?
Check it out here: • Taxes for Content Crea...
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💻 Get Startglobal's all in one tax package - 👉 startglobal.co/
🏛 Tax estimator tool - startglobal.co/tools/tax-esti...
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- CHAPTERS -
0:34 - Introduction
1:02 - Tax deductions and Tax Credits
1:33 - What are tax deductions?
2:26 - How do I make a tax deduction?
3:01 - Ordinary and Necessary!
3:14 - What is an example of a business expense that is NOT ordinary or necessary?
3:35 - What are some examples of business deductions?
3:52 - What are tax credits?
4:29 - How do you claim tax credits?
4:44 - What are some examples of tax credits for a single person business?
4:48 - Earned Income Tax Credit
4:55 - Small Business Health Care Tax Credit
5:06 - Energy Efficiency Tax Credits
5:29 - Summary
6:04 - 3 things to keep in mind!
6:16 - Startglobals all in one tax package!
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the team at StartGlobal. The speaker does not guarantee any particular outcome.
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