02/10/2026
Deductions lower the income you’re taxed on; credits reduce the tax you owe dollar-for-dollar. Example 1: An individual with $60,000 income claims a $2,000 deduction — taxable income drops to $58,000, cutting their tax by several hundred dollars. Example 2: A small business owner qualifies for a $1,500 tax credit — that $1,500 comes off the tax bill directly. At ESP Tax Solutions, we teach these fundamentals so you can make smarter financial choices all year, not just at filing time. Ready to feel confident about your taxes? Visit https://wix.to/zjm3M5F to learn more. 🧾🙂