Don't miss these 3 tax credits when you file this year

A tax credit is among the most satisfying benefits you can turn up when preparing your return.

Unlike a deduction, which decreases the income on which you’ll be taxed, a tax credit reduces your overall tax due. The result can mean hundreds of dollars knocked off your bill — or added to your refund.

“With a credit, you get a 100% benefit,” says Andrew King, vice president of tax policy and research at Goldman Sachs Ayco Personal Financial Management in Cohoes, New York. “It’s a full recoupment of taxes you’d otherwise have to pay.”

Some tax credits apply to a huge swath of the population, while others are specialized to incentivize specific economic activity. Before you file your return, here are some tax credits you may want to review.