One more week until Tax Entire day. Have you filed yours yet? I haven’t (probably should get on that, actually), upkeep I read in USA Today that roughly 47% of Americans won’t even need to worry about paying federal income taxes, I start to wonder if I should even bother. Oh sure, there’s the threat of prison time for tax evasion, kontol but really, what’s the point if half the damn country isn’t going to fund up and memek jump off scot-free? A personal exemption reduces your taxable income so you wind up paying lower taxes.
You may well be even luckier if the exemption brings you a few lower income tax bracket. For the year 2010 it is $3650 per person, just like last year’s amount. In 2008, a lot was $3,500. It is indexed yearly for augmentation.
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