Tax Benefit

Dictionary Says

Definition of 'Tax Benefit'

A tax benefit is an allowable deduction on a tax return intended to reduce a taxpayer's burden while typically supporting certain types of commercial activity. A tax benefit allows some type of adjustment benefiting a taxpayer's tax liability.
Investopedia Says

Investopedia explains 'Tax Benefit'

Tax benefits provide an advantage to the taxpayer while typically benefiting another entity. An example of a tax benefit is an energy tax credit; taxpayers can qualify for certain tax credits for installing energy efficient systems in their homes, which benefits the environment while reducing the demand for fuel. Quite often tax benefits may be only available for a certain time period or tax year.

Sign Up For Term of the Day!

Try Our Stock Simulator!

Test your trading skills!

Related Definitions

  1. Taxes

    An involuntary ...
  2. Income Tax

    A tax that ...
  3. After-Tax Income

    The amount of ...
  4. Itemized Deduction

    A deduction from ...
  5. Tax Credit

    An amount of ...
  6. Tax Break

    A tax break is a ...
  7. Return

    The gain or loss ...
  8. Intaxification

    The feeling of ...
  9. Generation-Skipping Transfer Tax - GSTT

    A tax incurred ...
  10. Unearned Income

    Any income that ...

Articles Of Interest

  1. Cut Employee Stock Option Taxes With AMT Credit

    Learn how refundable AMT credits can help you save on taxes, AMT bills and more.
  2. 5 Tax Credits You Shouldn't Miss

    If you're not taking advantage of these deductions, you could be missing out on tax savings.
  3. Give Your Taxes Some Credit

    A few tax credits can greatly increase the amount of money you get back on your return.
  4. Personal Income Tax Guide: 6 Overlooked Deductions And Credits

    If the sight of your W-4 has you in the doldrums, read on to learn how to beat the tax blues.
  5. Tax Credits And Deductions For Parents

    Your children can help you save on your taxes with these credits and deductions.
  6. Tax Variations Of The HEART Act

    The HEART Act is designed to allow service members and reservists make a smooth financial transition into active duty and back into civilian life.
  7. The Link Between The Fed, Money, Debt And Taxes

    Assets on the Fed's balance sheet, money supply level, national debt level and economic production should be maintained in equilibrium.
  8. Tax Credit For Plan Expenses Incurred By Small Businesses

    Determine whether your business is eligible to claim a tax credit for establishing a retirement plan.
  9. Saver's Tax Credit: A Retirement Savings Incentive

    Here's another reason to put money toward your retirement nest egg.
  10. After-Tax Balance Rules For Retirement Accounts

    Accumulating post-tax assets can work to your advantage. Find out how.

comments powered by Disqus
Recommended
Loading, please wait...
Trading Center