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Income Taxes

Can people be consider tax exemptions?

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Answered 2010-07-20 01:53:38

Yes each qualified taxpayer and qualified dependent would be 1 exemption for each one on your 1040 federal income tax return when it is completed correctly.

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Congress didnt extend the current exemptions on inheritance tax. The exemptions are only temporary though and tax is likely to be reinstated fully within a year. More than likely Congress will extend the exemptions on the inheritance tax. When they are close to expiring they will be brough up for a vote.


You can find information the exemptions at www.window.state.tx


When you click on the link that has been provided for you below this answer you will go straight to a page which has all the information you are looking for regarding tax exemptions


You are only supposed to claim the number of qualifying exemptions that you are qualified to claim.


Tax exemptions are designed to give individuals and businesses a break so they can have some of their money left to contribute to the economy. There are a wide variety of tax exemptions.


On your correctly filed income tax return 1040 page 1 where it says exemptions 1040 line 6d 1040A line 6d and 1040EZ you can only have 2 exemptions 1 for yourself and one for your spouse if married filing a joint income tax return.


As of 2012 it is 6.25 percent, but there are numerous exemptions.


The deduction per exemption is $3,500 in 2008.


Comparatively when you have more income or less deductions/exemptions.


Exemptions are related to the number of people who live in your home, therefore, you merely need to have more children. I do however warn that it is far more costly to have more children than just to save a little income taxes.


An exemption is something that is excluded. In taxes, there are various tax exemptions and types of income that are exempt from tax. There are also certain types of organizations that are exempt from tax.


When designing tax policy, you should consider of the about tax money that you need. You should also consider how long you think the tax money will be needed.


All of the states in the United States have property tax exemptions for government owned properties (local, state, and federal), certain educational organizations, qualifying religious organizations, and certain qualifying nonprofit organizations.


No the tax rates , exemptions etc change every year.


The number of exemptions that you claim affects the amount of taxes that you will pay by lowering them. That is if the exemptions are claimed when you file your taxes. The more exemptions that you claim on your paycheck, the more you money you receive in your pay each week, rather than having more in your tax refund.


Because helping the homeless is big business. You get huge tax credits and exemptions. Because its the right thing to do, it has nothing to do with money or anything


Form W-4 is Employee's Withholding Allowance Certificate. You enter the number of your exemptions on Form W-4. The Personal Allowances Worksheet guides you to take an accurate number of exemptions. If you (and/or your spouse) are working at more than one job, you might claim 0 allowances to make sure enough tax is withheld on your earnings. Also, if you have a large amount of nonwage income (interest, dividends, etc.), either claim 0 exemptions or arrange to make estimated tax payments using Form 1040-ES (Estimated Tax for Individuals). For more information, go online to print Publication 505 (Tax Withholding and Estimated Tax) at www.irs.gov.


They wouldn't be listed there..I don't believe they are listed for you anyplace.


For federal and state income tax purpose because of any adjustments, deduction's, exemptions, nonrefundable tax credits, refundable tax credit, additions to tax, etc. before you arrive at the Effective tax rate.


I don't know if this has changed but I have generally claimed more exemptions on my withholding than on my tax return because I have lots of deductions and still get money back. No one has ever said this was illegal. What is illegal is claiming false deductions on your tax RETURN or knowingly underpaying your taxes. Don't do that! Absolutely legal. The exemptions simply tell you how much you w ant to withhold. Put 1,000 there if you want the lowest amount taken out possible. However, you must pay in either 90% of your total tax due, or 100% of the previous years tax amount. == ==


I'm not sure who "you" would be. People can't tax others, States can't tax others, and the Fed has to treat all equally. But of course, exemptions could be made...but they would be voted into law by the representatives of the other States.


Broaden the tax base. End tax exemptions. Confiscate and sell lands owned by noble emigres. Confiscate and sell property owned by the Catholic Church.


Much more information is required in order to answer this question. What type of tax are you referring to; exemptions, filing status, etc. if income tax; etc.


Form W-4 is Employee's Withholding Allowance Certificate. It's an IRS form that your employer gives you to complete for the employer's records. Allowable exemptions are the number of personal, dependable, and other exemptions that you claim on Form W-4. Your employer refers to the number of exemptions and your filing status to calculate income tax withholding from your earnings.For more information, go to www.irs.gov/taxtopics. Select Topic 753: Form W-4 Employee's Withholding Allowance Certificate.Also go to the Forms and Publications screen, www.irs.gov/formspubs. Select Publication Number to view/print Publication 505: Tax Withholding and Estimated Tax and Publication 919: How Do I Adjust My Tax Withholding?


are losses to the U.S. treasury from granting certain deductions, exemptions and credits to specific categories of taxpayers.



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