Computation of Tax and Credits
The computation of tax and credits involves calculating the amount of tax liability an individual or business owes by applying current tax rates to taxable income and subtracting applicable tax credits, which are allowances designed to reduce the tax owed.
Lesson Videos
Computation of Tax and Credits Overview
Introduction to Computation of Tax and Credits
Tax Credits vs. Deductions
Tax Phaseouts
Non-Refundable and Refundable Credits
Child and Dependent Care Credit
Child Tax Credit
Credit for the Elderly/Permanently Disabled
American Opportunity Tax Credit
Lifetime Learning Credit
Adoption Credit
Retirement Savings Contribution Credit
Earned Income Credit
Federal Tax Withholdings
Miscellaneous Credits
Education Savings Plans
Alternative Minimum Tax
Computation of Tax and Credits Summary
Computation of Tax and Credits - Practice Questions
"Examprep.ai helped me pass all 4 CPA exams on the first try. I highly recommend. I especially like the feedback and ratings the software provides so I know where to focus my time."
Daniel H., CPA
"I can't recommend ExamPrep.ai enough. Nick's lessons turned concepts I struggled with into strengths. I was able to pass FAR right before other exams expired!"
Andrew K, CPA
"I just want to say thank you for the great lesson videos. I couldn't stay awake through lectures of another course. After watching all your FAR lessons I was finally able to pass!"
Alyssa M., CPA Candidate
