Explain the concept of tax incentives.
Tax incentives are rewards offered to individuals or businesses that encourages certain behaviors or activities. Usually, they involve providing a tax break to entice people to engage in the desired behavior. Examples include tax breaks for businesses that invest in research and development, or for individuals who donate to charity.
Tax incentives are benefits or relief offered from taxes either to individuals or businesses, either to encourage certain behavior and/or to reduce tax liability. Examples of tax incentives include tax write-offs, tax credits, and deferrals.