The personal exemption phaseout means as your income grows, you will get less of standard exemption for tax year i.e $ 4050 ( Year 2017) . But ,the government desires that as the income of a tax payer increase ,… Read More »How is the Year 2017 Exemption Phaseout Computed ?
personal exemption 2017
The moment you start computing taxable income of a person, you will come across the term tax deductions , personal tax exemption and tax credit . Two things about these taxation terms are well established – all three terms are completely different in meaning and application and all of them , ultimately , reduce bring tax relief for Individuals. Read More »How Personal Tax Exemption , Tax Deductions & Tax Credit Are Different From Each Other ?