A tax exemption is an exemption from all or certain taxes of a state or nation in which part of the taxes that would normally be collected from an individual or an organization are instead foregone.
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From the category archives:
Tax Exclusions
The limit on the exclusion for payments made on a per diem or other periodic basis under a long-term care insurance contract increased last year to $260 per day. The limit applies to the total of these payments and any accelerated death benefits made on a per diem or other periodic basis under a life [...]
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