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Revision as of 11:58, 16 August 2026
The IRS has set many tax deductions and benefits secured for taxpayers. Unfortunately, some taxpayers who bring home a great deal of income can see these benefits phased out as their income increases.
A personal exemption reduces your taxable income so you find yourself paying lower taxes. You might be even luckier if the exemption brings you a few lower tax bracket. For the year 2010 it is $3650 per person, equal of last year's amount. That year 2008, sum of was $3,500. It is indexed yearly for accroissement.
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