Which of the following statements is incorrect?


. Earned income credit is to provide tax equity to working poor.


. Child and dependent care credit mitigates the inequity felt by working taxpayers who must pay for child-care services to work outside the home.


. For a taxpayer whose marginal tax rate is 24%, a $100 deduction (a $100 tax credit) saves $24 ($100) of tax payment to the IRS.  


. Taxpayer can claim both American opportunity credit and lifetime learning credit in the same year for the same student.  


. Additional child tax credit is a refundable tax credit.  




. Which of the following business expenses is deductible?


. Airfare expense where more than 50% of the total travel time is related to personal activity.


 Business gifts exceeding $25 per year, per donee.


. Job-related education expenses where the education maintains or improves current job skills.


. Commuting expenses between home and main workplace.


. 100% of meals expenses where the meals are purchased at a grocery store or convenience store (not restaurant).