BROWSE

Tax Break

Definition

Tax break is any item which avoids taxes, including any tax exemption, tax deduction, or tax credit. It is also used in the United States to refer to favorable tax treatment of any class of persons.

What is a 'Tax Break'

A tax break is a savings on a taxpayer's liability. A tax break provides a savings through tax deductions, tax credits, tax exemptions and other incentives. An example of a tax break is the First-Time Homebuyer Tax Credit which provided a tax credit up to $8,000 for qualified purchasers of primary residences on their 2009 and 2010 tax returns.

Explaining 'Tax Break'

Tax breaks can greatly reduce a taxpayer's liability. Deductions are expenses that can be subtracted from gross income to reduce taxable income; credits reduce tax liability dollar-for-dollar and have a greater impact than deductions; exemptions occur where a tax for a certain item or type of income is reduced or eliminated.


Further Reading


Taxation, money, and credit, in a liberalizing socialist economy
link.springer.com [PDF]
… Putting the matter more negatively, premature efforts to break up the monolithic state bank (associated with classical … financial arrangements governing the foreign exchanges should parallel and complement these domestic tax and monetary … TAXATION, MONEY, AND CREDIT …

Jobs, productivity, and local economic development: What implications does economic research have for the role of government?Jobs, productivity, and local economic development: What implications does economic research have for the role of government?
www.jstor.org [PDF]
… Putting the matter more negatively, premature efforts to break up the monolithic state bank (associated with classical … financial arrangements governing the foreign exchanges should parallel and complement these domestic tax and monetary … TAXATION, MONEY, AND CREDIT …

Fiscal psychology: A new branch of public financeFiscal psychology: A new branch of public finance
www.jstor.org [PDF]
… Putting the matter more negatively, premature efforts to break up the monolithic state bank (associated with classical … financial arrangements governing the foreign exchanges should parallel and complement these domestic tax and monetary … TAXATION, MONEY, AND CREDIT …

Investment, financing decisions, and tax policyInvestment, financing decisions, and tax policy
www.jstor.org [PDF]
… Putting the matter more negatively, premature efforts to break up the monolithic state bank (associated with classical … financial arrangements governing the foreign exchanges should parallel and complement these domestic tax and monetary … TAXATION, MONEY, AND CREDIT …

Financing property's contribution to regenerationFinancing property's contribution to regeneration
journals.sagepub.com [PDF]
… Putting the matter more negatively, premature efforts to break up the monolithic state bank (associated with classical … financial arrangements governing the foreign exchanges should parallel and complement these domestic tax and monetary … TAXATION, MONEY, AND CREDIT …

Lost in translation: Detecting tax shelter activity in financial statementsLost in translation: Detecting tax shelter activity in financial statements
www.jstor.org [PDF]
… Putting the matter more negatively, premature efforts to break up the monolithic state bank (associated with classical … financial arrangements governing the foreign exchanges should parallel and complement these domestic tax and monetary … TAXATION, MONEY, AND CREDIT …


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