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June 13 2011

How Much are the Federal Income Tax Standard Deductions

How Much are the Federal Income Tax Standard DeductionsHow Much are the Federal Income Tax Standard Deductions:The standard IRS tax deductions are an option that can eliminate the need for you to itemize your tax return. But, taking the standard deductions when filing your taxes may not always be the best way for you to file.How much is the federal standard income tax deduction?The standard deduction amount will be affected depending on how you file, your age, any disabilities, and whether or not you can be claimed by another taxpayer.

June 04 2011

Federal Personal Income Tax Exemptions

Federal Personal Income Tax ExemptionsThe personal income tax is a tax that is intended to make those with higher incomes pay the amount of tax that they should to even out the tax liability for everyone else. It also tries to exempt the poor completely from having to pay personal income tax.FICA RateHow you claim your exemptions will depend on how you file your return.
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