Difference between revisions of "How Does Tax Relief Work"

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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 using a lower income tax bracket. For the year 2010 it is $3650 per person, same in principle as last year's amount. That year 2008, the number of was $3,500. It is indexed yearly for rising cost of living.

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