Are there any tax credits or deductions available in Kentucky?
Asked a year ago
Yes, there are various tax credits and deductions available in Kentucky to help taxpayers reduce their overall tax liability. Some common tax credits include the Earned Income Credit (EIC), Child and Dependent Care Credit (CDCC), and the Kentucky Education Tuition Tax Credit. These credits provide eligible individuals and families with the opportunity to lower their tax bill, potentially receiving a refund if their credits exceed the amount owed. Additionally, Kentucky offers deductions for student loan interest, pension income, and certain medical expenses. Taxpayers are encouraged to explore the Kentucky Department of Revenue's website or consult with a tax professional for detailed information on available tax credits and deductions applicable to their particular circumstances.
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