tax allowance

Definition

noun
part of the income which a person is allowed to earn and not pay tax on

Use tax allowance in a sentence

Since John has three children that live with him full time his paycheck is higher due to the tax allowance.

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I was glad that there was some tax allowance because that meant that it could not be taxed and everything would be okay.

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Completing taxes every year, I find that there are always new additions and I feel that I always miss out on a new tax allowance.

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casualty and theft losses first-time homebuyer tax credit