personal exemption

Definition of "personal exemption"
  1. A deduction available for the individual filing the tax return or for the individual and their spouse when filing a joint return
How to use "personal exemption" in a sentence
  1. The tax attorney explained how a personal exemption could potentially lower the couple's taxable income.
  2. The personal exemption is an effective method in reducing the tax burden when filing a joint return.
  3. Adding a personal exemption to the tax return could provide some necessary financial relief.

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