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Revision as of 23:40, 16 May 2026


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A personal exemption reduces your taxable income so you get paying lower taxes. You most likely are even luckier if the exemption brings you with a lower tax bracket. For the year 2010 it is $3650 per person, comparable to last year's amount. Around 2008, the amount of was $3,500. It is indexed yearly for augmentation.

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