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Credits & Deductions

There are a variety of credits and deductions for individual and business taxpayers.

The Earned Income Tax Credit, and the Child and Dependent Care Credit help millions of families every year. There are also a number of credits for small and large businesses. You may have taken deductions when you prepared your annual tax return. In addition to the standard deduction for individuals, common deductions include home mortgage interest, state and local tax, and charitable contributions. Many business expenses are deductible as well.

Individual Credits		Business Credits
Earned Income Tax Credit Education Credits Child and Dependent Care Credit Adoption Credit Health Coverage Tax Credit Saver's Credit > more credits for individuals		Small Business Health Care Credit Plug-in Electric Vehicle Credit > more credits for business

Individual Deductions		Business Deductions
Standard Deduction Gifts by Cash or Check Charitable Contributions Individual Retirement Arrangements > more deductions for individuals		Standard Mileage Business Expenses Home Office Deduction Domestic Production Activities Business Depreciation Deduction Casualty, Disaster & Theft Losses Deduction > more deductions for business

Page Last Reviewed or Updated: 12-Sep-2014

Popular Credits

Credits & Deductions

Individual Credits

Business Credits

Individual Deductions

Business Deductions