Understanding the Concept of Tax Breaks

Understanding the Concept of Tax Breaks

Introduction

Tax break in simple words is a saving on the liability of a taxpayer. Tax payers can get the benefits of tax saving with tax breaks through tax exemption, tax incentives, tax credits and tax deduction. Tax breaks reduces the tax liability of a tax payer. Tax breaks is also known as tax loopholes, tax breaks are used to support a favored tax treatment of a group or entity. This assignment is dedicated at explaining the concept of tax breaks and some issues related to tax breaks.

Discussion

1- Do you feel ...