
- 2% Limit
- A.G.I. (Adjusted Gross Income)
- Above-the-Line Deductions
- Accountable Plan
- Actual Cost Meal Deduction
- Adequate Records
- Alternative Minimum Tax
- Below-the-Line Deductions
- City-by-City
- Commuting Expenses
- CONUS
- CPA (Certified Public Accountant)
- D.O.T. (Department of Transportation)
- Documentary Evidence
- DoS (Department of State)
- Effective Date
- Effective Tax Rate
- Employee Business Expenses
- Enrolled Agent
- Expiration Date
- G.S.A. (General Services Agency)
- Gross Income
- Home
- Hours of Service Limits
- Incidental Expenses
- Indefinite Duty
- IRS
- IRS Form 1040
- IRS Form 2106
- IRS Publication 1542
- IRS Publication 463
- IRS Publication 529
- Itemized Tax Deductions
- Itinerant
- Local Trips
- M&IE
- Meals
- Necessary Expense
- Non-Taxable Per Diem
- Nonaccountable Plan
- OCONUS
- Ordinary Expense
- Per Diem
- Per Diem Calculator
- Per Diem Deduction
- Per Diem Rates
- Personal Expenses
- Prorate
- Recordkeeping
- Reimbursement
- Rest
- Schedule A
- Seasonal End Date
- Seasonal Start Date
- Special Per Diem Rates
- Standard Deduction
- Standard Meal Allowance
- Substantiated Expenses
- Tax Attorney
- Tax Audit
- Tax Bracket
- Tax Credit
- Tax Deduction
- Tax Home
- Tax Liability
- Tax Preparer
- Tax Software
- Taxable Income
- Taxable Per Diem
- Temporary Duty
- Transition Period
- Transportation Workers
- Travel Expenses

A tax credit is a benefit that a taxpayer can qualify for on their tax return that is similar to a tax deduction. The difference is that a tax credit will increase a truck driver's tax refund or decrease the trucker's tax liability by the listed amount of tax credit, while a tax deduction is subject to the truck driver's tax bracket.
Because a tax credit is a dollar-for-dollar conversion, a $5000 tax credit reduces a taxpayer's tax liability by $5000, a $10,000 tax credit reduces the tax liability by $10,000. It does not depend on the tax bracket, though it can be affected by the AMT (alternative minimum tax).
Examples of tax credits are: Credit for child and dependent care expenses, credit for the elderly or disabled, education credit, etc.
Tax credits can and often do change from year-to-year. Therefore, reference publication 1040 or consult a tax preparer about the current tax credit changes for each given year.
Some examples of tax credits include:
-
The Hope and Lifetime Learning education credits
-
The Earned Income Credit
-
The Child Tax Credit

