personal exemption
Definition
An amount excluded from taxable income, given to any taxpayer who cannot be claimed as a dependent by another taxpayer.
Use personal exemption in a sentence
“ The personal exemption was a proud moment for the young man who was on his own working his first job. ”
“ You may want o have a personal exemption if you think that will make things more profitable for you or others. ”
“ I hated taxes and the one thing I was thankful for was personal exemption, because it allowed me to be excluded. ”
