The term
"dependency exemption" refers to a tax benefit that allows you to reduce the amount of taxable income you have by claiming a certain person, usually a child or relative, as a dependent on your tax return. This can help lower your overall tax liability.
Full definition
Similar and related words and phrases are presented below.
«dependency»
«exemption»
Related phrases
Sentences with «dependency exemption»
- Otherwise, it does not matter which parent claims the actual dependency exemption on their tax return for the child in determining if they can deduct medical expenses. (wisemoneytips.com)
- Tax issues include child dependency exemptions, filing status, and tax planning to minimize or eliminate tax upon transfer of assets. (divorcemed.com)
- Besides the tax savings that can result from dependency exemptions, claiming a dependent may also benefit you in other areas of your tax return. (wisemoneytips.com)
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sentences)