personal exemptions
Definition
Specified amounts that a taxpayer may deduct from his or her taxable income for self, or for each person who qualifies as a his or her dependent. Additional exemptions are allowed after a certain age (usually 65 years) and in case of certain disabilities. Also called personal allowance.
personal exemptions is in the Accounting & Auditing and Banking, Commerce & Finance subjects.
personal exemptions appears in the definition of the following term: personal allowance
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