Exemptions are more desirable than deductions for a person in the 36% tax bracket.

Name: Exemptions are more desirable than deductions for a person in the 36% tax bracket.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Exemptions directly reduce taxable income, whereas deductions only reduce taxable income after it has already been taxed at the person's marginal tax rate. Therefore, exemptions are more beneficial for someone in a higher tax bracket.

Exemptions Are More Desirable Than Deductions for a Person in the 36