List at Least Three Disadvantages of Using Credit

question 75

Essay

List at least three disadvantages of using credit.

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Definitions:

Itemized Deduction

Tax deductions that allow taxpayers to list each deductible expense they qualify for, potentially reducing taxable income.

Sales Taxes

Taxes imposed on the sale of goods and services, typically collected by retailers at the point of sale and remitted to the tax authority.

Prescription Drugs

Medications that require a doctor’s prescription before they can be purchased or dispensed.

Deductible

An expense that can be subtracted from gross income to reduce the amount of taxable income.