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A personal exemption reduces your taxable income a person end up paying lower taxes. You may be even luckier when the exemption brings you along with lower income tax bracket. For the year 2010 everyone $3650 per person, just like last year's amount. Ultimately year 2008, the amount was $3,500. It is indexed yearly for blowing up. So now you must some understanding as to how these corporations limit your liability and corpora
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