Refundable & Non-Refundable Tax Credits

In this video we'll define what is a tax credit, will discuss tax credits versus tax deduction with examples. We'll also illustrate the difference between refundable and nonrefundable tax credits with examples.

0:00 Introduction
0:22 What is a tax credit?
0:30 Tax credit vs tax deduction
0:42 Tax deduction example
1:20 Tax credit example
1:56 What is a refundable tax credit?
2:14 Refundable tax credit example
3:20 Refundable tax credit vs nonrefundable tax credit
3:35 Nonrefundable tax credit example


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DISCLAIMER: THIS VIDEO IS FOR INFORMATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSTRUED AS TAX, FINANCIAL, OR LEGAL ADVICE. EVERY PERSON’S SITUATION IS DIFFERENT AND YOU SHOULD CONSULT WITH YOUR OWN FINANCIAL AND TAX ADVISOR FOR ADVICE SPECIFIC TO YOUR SITUATION. COMMENTS ARE NOT REVIEWED