Describe the Three Types of Service Activities

question 69

Essay

Describe the three types of service activities.

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Definitions:

Tuition

The charge or fee for instruction, as at a private school or a college or university, often eligible for tax credits or deductions under certain conditions.

Meal Plan

A prepaid system for purchasing meals, often used in college dining halls or by individuals planning dietary needs.

Child Tax Credit

A tax benefit that allows taxpayers to reduce their tax liability on a dollar-for-dollar basis for each qualifying child under a certain age.

AGI

Adjusted Gross Income, which is total income minus specific deductions, used to determine tax liability.