Don t Panic If Taxes Department Raids You: Difference between revisions
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Revision as of 18:52, 24 August 2026
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A personal exemption reduces your taxable income so you end up paying lower taxes. You could be even luckier if the exemption brings you a new lower income tax bracket. For the year 2010 it is $3650 per person, equal to last year's amount. This year 2008, get, will be was $3,500. It is indexed yearly for augmentation.
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