Quote:
Originally posted by organicmommy
Ok I do not think that the new 10K starts til 2003 but I could be wrong. From what I have heard, this is a tax credit, this is taken from your gross earnings prior to figuring out what your taxes to be paid for the year are. Hope this helps.
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this is incorrect, I'm afraid. A tax credit is deducted from the total tax owed in a given year, as opposed to a tax deduction (descibed above), which is deducted from gross earnings.
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