Feb 12 2018

Five Things to Remember About Exemptions and Dependents for Tax Year 2017

By GCOCPA Administrator No Comments

Most taxpayers can claim one personal exemption for themselves and, if married, one for their spouse. This helps reduce their taxable income on their 2017 tax return. They may also be able to claim an exemption for each of their dependents. Each exemption normally allows them to deduct $4,050 on their 2017 tax return. While each is worth the same amount, different rules apply to each type.

Read More



Recent Posts

Coronavirus-related Paid Leave
Update COVID-19
Taxpayer Bill of Rights

Archives
Categories
Search
Match all words
Match any words
Tag Cloud