| | InvestHub.com's
Finance Dictionary and Glossary of Investment Terms
exemption
Definition 1.
A direct reduction taken from taxable income for a specific reason, as allowed by the IRS.
|
Definition 2.
A deduction allowed by law to reduce the amount of income that would otherwise be taxed. An exemption is based on a status or circumstance rather than economic standing.
|
Definition 3.
Direct reductions from gross income allowed by the IRS.
|
|
|