Examlex
Total risk can be divided into:
Foreign Income Taxes
Taxes paid to a foreign government for income earned from sources within that foreign country, which may be subject to tax credit or deduction in the taxpayer's home country.
Education Credit Deduction
A tax benefit that reduces the amount of income tax owed by students or their families based on qualified education expenses, intended to decrease the cost of further education.
Qualified Expenses
Specific expenses that meet the criteria to be tax-deductible or eligible for tax credits.
Dependent
A person who relies on another, typically a family member, for financial support and qualifies for certain tax benefits on the supporter's tax return.
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