personal exemptions

As you fill out your federal income tax return, even before you report your income, the IRS asks you to list your personal exemptions. It's important not to skip this step -- exemptions reduce your taxable income. For 2010, the personal income tax exemption amount is $3,650, the same as in 2009....

By now, you're aware there's no magic bullet to reduce your taxes. But you can take several steps to reduce your overall tax bill this April. Here are 11 items to consider before filing your federal income tax return:

As you fill out your federal income tax return, even before you report your income, the IRS asks you to list your personal exemptions. It's important not to skip this step -- exemptions reduce your taxable income. For 2009, the personal income tax exemption amount is $3,650. That's per person, not...