How to Calculate Exempt Value
- 1). Determine the current exemption amount.
- 2). Multiply the amount by your number of dependants.
- 3). Subtract the amount from your taxable income. The amount remaining is the amount of taxable income you are responsible for at the end of the year. Once you know the amount, you can adjust your withholdings to ensure you will not owe any taxes at the end of the year.
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