A direct reduction taken from taxable income for a specific reason, as allowed by the IRS.
A tax deduction taken by an individual, a spouse, and each dependent.
Direct reductions from gross income allowed by the IRS. Exercise To implement the right of the holder of an option to buy (in the case of a call) or sell (in the case of a put) the underlying security.
An amount from total income that a taxpayer can claim for himself or any eligible dependants. Exemptions reduce a personâ€™s taxable income. Exemptions can be personal or dependency exemptions and the amount is fixed each year.!-- google_ad_client = "pub-0690419777184136"; google_alternate_ad_url = "http://www.e-legality.org/alt_ad.html"; google_ad_width = 336; google_ad_height = 280; google_ad_format = "336x280_as"; google_ad_channel ="7216315858"; google_ad_type = "text"; google_color_border = "FFFFFF"; google_color_bg = "FFFFFF"; google_color_link = "000099"; google_color_url = "660000"; google_color_text = "000000";
An amount allowed by the tax law as a reduction of otherwise taxable income. The two types of exemptions are “personal” and “dependency.
a deduction allowed to a taxpayer because of his status (having certain dependents or being blind or being over 65 etc.); "additional exemptions are allowed for each dependent"
a different deduction than the Standard Deduction calculated above
a dollar amount that can be deducted from an individual's total income, thereby reducing the taxable income
an amount deducted from the assessed value of the property
an amount of money you can subtract from your Adjusted Gross Income, just for being you or having dependents
a set dollar deduction given in the tax tables
a specific amount that can be subtracted from your taxable income
a way for you to deduction an additional amount of money from your gross income, lowering your taxable income and, thereby, lowering the tax you owe
Amount that taxpayers can claim for themselves, their spouses, and eligible dependents. There are two types of exemptions-personal and dependency. Each exemption reduces the income subject to tax. The exemption amount is a set amount that changes from year to year.
A deduction from the taxable assessed value of property as prescribed by law, generally based on the property's use.
A personal allowance used as a subtraction from taxable income. For tax year 2005, it is $3,200.
A tax relief provision under Massachusetts Law for certain qualifying taxpayers: elderly persons, blind persons, disabled veterans, surviving spouse or orphaned minor child, widow or orphaned minor child of a police officer or firefighter, and extreme hardship.
A deduction amount that reduces your tax. You are generally allowed one exemption for yourself and, if you are married, one exemption for your spouse (personal exemptions), and one exemption for each person you claim as a dependent (exemptions for dependents).
An amount that reduces the income that is subject to tax. You are generally allowed one exemption for yourself and, if you are married, one exemption for your spouse (personal exemptions). You are also allowed one exemption for each person you claim as a dependent (dependent exemptions).
An amount ($2,650 for 1997) that can be subtracted from income in figuring how much income will be taxed. Exemptions generally are allowed for the taxpayer, the taxpayer's spouse, and qualifying dependents.
n. 1) in income taxation, a credit given for each dependent, blindness or other disability, and age over 65, which result in a downward calculation in tax levels. These are not to be confused with deductions, which reduce gross income upon which taxes are paid. 2) a right to be excluded from, such as not being subject to attachment of one's wages if one is in a low-income bracket, or not being subject to the military draft if one is employed in essential industry, has several children or is a college student.
An amount ($2,750 for 1999) allowed by law as a reduction of income that would otherwise be taxed. There are two kinds of exemptions: personal and dependency.
An amount provided by law that reduces taxable . income or taxable value.
A personal or dependency deduction amount allowed by law as a reduction that would otherwise be taxed.
Amount of a taxpayer's income that is not subject to tax. All individuals, TRUSTS, and estates qualify for an exemption unless they are claimed as a dependent on another individual's tax return. Exemptions also are granted to taxpayers for their dependents.