Tax Benefit Definition
Below please find a definition of “Tax Benefit”
Tax Benefit: When a break in tax is granted with the intent of encouraging a particular type of commercial activity, it is termed as a tax benefit. This break is granted with the sole purpose of reducing a tax payer’s burden while engaging in the commercial activity. A very common example of a tax benefit is the energy tax credit that homeowners get for installing energy efficient systems in their homes.
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