Personal Exemption

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Personal exemption

Amount of money a taxpayer can exclude from personal income for each member of the household in calculation of a tax obligation.

Personal Exemption

In U.S. tax, the amount of personal income that is not taxed. That is, the personal exemption is money that is not included in one's adjusted gross income when calculating one's tax liability. One receives additional exemptions for a spouse, children, and if one is over 65 or blind. Congress sets the amount of the personal exemption each year.

personal exemption

See exemption.

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Exempt Income Exemption			Since her gross income exceeds the personal exemption amount ($3,650 for tax year 2009), she cannot be a QR exemption for the taxpayer. Unrelated child as a qualifying relative by Hopkins, James M. / Journal of Accountancy 25 percent and reduces the dependent exemption credit to the same amount of the personal exemption credit--a $210 difference per dependent using 2008 amounts. Helping your clients: avoid tax bills next April by California CPA Regular tax brackets and personal exemptions are indexed for inflation each year to prevent bracket creep, an automatic upward shift in the marginal income tax bracket through inflation. Answers to Your Alternative Minimum Tax Questions by Kevin McCormally, Editorial Director, Kiplinger.com / Kiplinger.com			Permit Bond Permuta Perp Walk Perpendicular Spread Perpetual Bond Perpetual Inventory Perpetual Warrant Perpetual Warrants perpetuity PERQS PERQSSM perquisites person Persona en busca de empleo Persona Grata Persona juridica Persona Non Grata Personal Account Personal and Dependent Exemptions Personal Article Floater personal assistant Personal Consumption Expenditure Personal Consumption Expenditures Personal Day Personal Equity Plan Personal Exemption Personal Expense Personal Finance Personal Holding Company Personal Holding Company Tax Personal Identification Number Personal Income Personal inflation rate personal liability personal property Personal Property Tax personal residence Personal Responsibility and Work Opportunity Reconciliation Act Personal Savings Personal Service Corporation Personal Tax View Personal Tax View of Capital Structure Personal trust Personal Use Property Personal-Use Property Personalidade juridica personalty Perte pour l'economie Perth Mint Peruvian New Sol Peruvian Sol			Personal Electronic Ballot Personal Electronic Device Personal Electronic Filing Number Personal Electronic Health Records Personal Electronic Medical Management Systems Ltd Personal Electronic Teller of Stories Personal Electronic Thingy Personal Electronic Transactor Personal Emergency Evacuation Plan Personal Emergency Notification Network Personal Emergency Response Services Personal Emergency Response System Personal Entry Device Personal Environmental Module Personal Eportfolios for Teaching and Learning personal equation personal equation personal equation personal equation Personal Equipment Connector Personal Equity Plan Personal Equity Plan Personal Equity Plan Personal Equity Plan Personal Equity Plan personal equity plans personal equity plans personal estate personal estate Personal Excess Liability Policy Personal Exemption Personal Exemptions Personal Exercise personal expense personal expense Personal Experience Factor Personal Experience with Active Cultural Heritage Personal Exposure Concentration Personal Exposure Model Personal Extension Phone Personal Fall Arrest System Personal Fall Limiter Personal Feelings Questionnaire-2 Personal File Personal File Sharing Personal File System Personal Filing Cabinet Personal finance Personal Finance and Career Exploration Personal Finance Boot Camp Personal Finance Education Group Personal Finance Employee Education Foundation Personal Finance Initiative Personal Finance Manager Personal Finance Research Centre Personal finances

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