Louis G. Hutt, Jr. CPA, Advisor and Attorney 877-640-6342

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Tax Tip Tuesday - Dependent Exemption Phaseouts

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Under the Personal Exemption Phaseout (PEP) rule, personal and dependent exemptions for 2015 are reduced by 2% for each $2,500 (or portion thereof) that adjusted gross income (AGI) exceeds $258,250 for single filers and $309,900 for joint filers.

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