Learn Concerning A Tax Attorney Works: Difference between revisions
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Revision as of 07:51, 22 September 2024
Families that are considered pertaining to being poor or low income are given assistance through the earned income credit, or EIC. The EIC is a tax credit that helps such families with low earnings to keep a better standard of living. An EIC can translate in tax refund of somewhere between $400 and $4,500. Piece of content will let you know that you can figure out if you are eligible for the EIC.
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A personal exemption reduces your taxable income so you get paying lower taxes. You might be even luckier if the exemption brings you with a lower income tax bracket. For the year 2010 it is $3650 per person, just like last year's amount. In 2008, the number of was $3,500. It is indexed yearly for the cost of living.
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