atc98002
Veteran Member
- Joined
- Nov 24, 2006
- Location
- Auburn WA
- TDI
- 2014 Passat TDI SEL Premium (sold back), 2009 Jetta (sold back), 80 Rabbit diesel (long gone)
It's a full tax credit, so it comes off the total tax due. It is not like a deduction, which reduces your taxable income.aanvari3 said:About tax rebates, does that mean if i paid say 10,000 in taxes for the year, and i had the rebate; i would get 1,300 back after i sent in my tax forms? Or does that mean that say i had 50,000 in taxable income that ended up being 10,000 (20%) taken for taxes ; instead i would only have 48,700 in taxable income and end up with say 9,740 (20%) taken for taxes? So would i basically get back 260 bucks or 1,300 bucks? Sorry i'm not good with tax lingo.
I'm not a tax consultant, so I'm perfectly prepared to be proved wrong. I'm just really sure I'm right