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Tax education is available in varying level of sophistication from educational institutions as part of their degree program to seasonal short term course offered by income tax preparation companies. So depending your need you can choose the right tax course.

Tax Credits are straight deductions taken from the calculated tax. You get a dollar to dollar reduction in taxes in case of tax credit compared to tax deduction which only lower your taxable income. Generally tax credit are direct and more be benefit than tax deductions. If both are available like in the case of education tax credits, calculate using tax credit and tax deduction and take the one which gives you maximum tax refund.

IRS requires every individual and business need a tax id number to identify them self and pay taxes. The individuals use their SS number or Individual Taxpayer Identification Number(ITIN) as tax id number. Business use employers id number (EIN), if they have any employees working for them.

Tax Deduction is a deduction from the gross income to calculate taxable income. The gross income is the total income from all sources. From the gross income you deduct allowable tax deductions, tax credits, etc and the resulting amount is the taxable income. There are many rules for taking the tax deductions and credits. A good tax software or an experienced tax professional can help you identify the allowable deductions. Once you calculate taxable income, you can find the total tax by looking in the tax table in the IRS publication 17. So, if you maximize your tax deductions, you can maximize your tax refund or minimize your tax bill.