exemptions Synonyms
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exemptions Meaning
exemptions
an exemption that is allowed for the taxpayer or for the taxpayer and spouse if filing a joint return, the act of exempting or state of being exempt, a source or amount of income exempted from taxation, the act of exempting, a type of property that may be claimed as exempt see also Bankruptcy Code, one that exempts or is exempted, an exemption that is allowed for each dependent who qualifies under the tax laws (as sections 151 and 152 of the Internal Revenue Code), the right created by federal and state laws to exempt specified types of property from a bankruptcy estate, homestead exemption, an amount of income exempted from taxation that may be deducted from adjusted gross income under the tax laws see also Internal Revenue Code compare deduction, exclusion, tax credit, something that is exempted
exemptions Sentence Examples
- Tax exemptions provide relief to qualified individuals or entities from paying certain taxes.
- Non-profit organizations often receive exemptions from property taxes.
- Low-income earners may be eligible for exemptions from income taxes.
- Veterans are entitled to specific tax exemptions as a form of gratitude.
- Some types of medical expenses qualify for tax exemptions.
- Charitable donations can often be claimed as exemptions on tax returns.
- Employers may provide tax exemptions for certain employee benefits.
- Homeowners may qualify for mortgage interest exemptions.
- Certain investments may be exempt from capital gains tax.
- Students may be eligible for tax exemptions on educational expenses.
FAQs About the word exemptions
an exemption that is allowed for the taxpayer or for the taxpayer and spouse if filing a joint return, the act of exempting or state of being exempt, a source o
immunity, protection, safety, shield, forgiveness, impunity, security, absolution, cover,defense
vulnerability, openness,liability, susceptibility, exposure,susceptibleness,
Tax exemptions provide relief to qualified individuals or entities from paying certain taxes.
Non-profit organizations often receive exemptions from property taxes.
Low-income earners may be eligible for exemptions from income taxes.
Veterans are entitled to specific tax exemptions as a form of gratitude.
