• prole@lemmy.blahaj.zone
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    5 days ago

    Standard deduction is slightly different than an exemption. You’re deducting a set amount (instead of itemizing it, which only makes sense to do if the total is more than the standard deduction, which it won’t be for most professions).

    An exception exemption would be removing a portion of the taxable income before it is taxed.

    Pretty similar outcome for most people, but still an important distinction.

    Edit: fixed autocorrect error