A Background Of Taxes - Part 1: Difference between revisions
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Revision as of 13:30, 20 July 2025
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A personal exemption reduces your taxable income so you find yourself paying lower taxes. You might be even luckier if the exemption brings you with lower tax bracket. For the year 2010 it is $3650 per person, equal of last year's amount. During 2008, heap was $3,500. It is indexed yearly for rising prices.
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