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Latest revision as of 00:39, 7 August 2026


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A personal exemption reduces your taxable income so you find yourself paying lower taxes. You could be even luckier if the exemption brings you any lower income tax bracket. For the year 2010 it is $3650 per person, similar to last year's amount. During 2008, get, will be was $3,500. It is indexed yearly for rising prices.

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