What is an exemption for tax returns?

Answer Taxpayers are allowed a variety of deductions, which reduce their taxable income. The deduction for which everyone qualifies is the one personal exemption for him or herself. There are, however, a... Read More »

Top Q&A For: What is an exemption for tax returns

What is the maximum exemption on a w4?

The maximum number of exemptions you can claim on a W-4 is 10. The more exemptions you claim on your W-4, the less tax your employer will withhold from your paycheck. You can change the number of e... Read More »

Stock Market Returns Vs. Commodity Returns?

Investing successfully in the stock market and a commodity market requires similar qualifications: intensive study, a sensible plan of investment and sufficient capital to endure inevitable downswi... Read More »

What is an alternative minimum tax exemption?

An alternative minimum tax exemption, or AMT, is a sum of money that payers of the AMT can subtract from taxable income before calculating what his AMT payment will be. As an example, the AMT exem... Read More »

What Is the Missouri Estate Tax Exemption?

The Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) repealed a tax credit for state estate tax until 2011 at the earliest. As a result, there has been no state estate tax in Miss... Read More »