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Credits & Deductions

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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

 

 

 

 

 

 Individual Deductions

 

Business Deductions

 

 

 

 

Page Last Reviewed or Updated: 10-Jun-2015

Keep more of what you earn with an Earned Income Tax Credit. Find out if you qualify for an EITC this (button).