Exemptions related to income tax refer to specific conditions or allowances that reduce taxable income. These exemptions lower the amount of income that is subject to taxation, which can effectively reduce the overall tax liability for an individual or household.
What are exemptions related to income tax?(1 point) Responses Fixed amounts deducted from gross pay to calculate net pay. Fixed amounts deducted from gross pay to calculate net pay. Specific conditions or allowances that reduce taxable income. Specific conditions or allowances that reduce taxable income. Amounts deducted from paychecks to fund Social Security programs. Amounts deducted from paychecks to fund Social Security programs. Employer-provided benefits like health insurance or retirement plans.
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