A Status Taxes - Part 1: Difference between revisions

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Revision as of 11:35, 30 June 2026

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A personal exemption reduces your taxable income so you get paying lower taxes. You might be even luckier if the exemption brings you using a lower income tax bracket. For the year 2010 it is $3650 per person, just like last year's amount. During 2008, the amount was $3,500. It is indexed yearly for augmentation.

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