What Are Tax Exemptions, and Which Can You Still Claim?

Charlene Rhinehart, CPA, The Motley Fool
·3-min read
What Are Tax Exemptions, and Which Can You Still Claim?

Tax exemptions can work wonders for your return, giving you the opportunity to pay less tax and stash away more cash. Here's what to keep in mind as you maneuver through the tax filing process and recall the days when tax exemptions were a big deal. Simply put, a tax exemption gives you access to tax-free income.