Personal exemption

An amount excluded from Taxable income, given to any taxpayer who cannot be claimed as a Dependent by another taxpayer.

Related Terms: 7 Claim, CLU, Dependent, Inc., Payer, Tax, Taxable income

Other Related Pages: Category: Taxes Starting With: P

Additional Related Terms: After-tax basis, All or any part, Accumulated earnings tax, Action to quiet title, As is, Assignment to creditors, Attorney in fact, A shares, At the money, After-tax contributions