U.S. News Review. On the same strip of Montego Bay sand as Secrets Wild Orchid, Secrets St. James offers all the amenities of a luxury all-inclusive on the beach, but it's only 14 miles from Sangster International Airport.
Personal exemption (United States) Under United States tax law, a personal exemption is an amount that a resident taxpayer is entitled to claim as a tax deduction against personal income in calculating taxable income and consequently federal income tax. It has the effect of reducing income tax payable, even to tax-free level, but not so as to result in a tax refund.
The 2017 personal exemption, at $4,050, is substantially lower both in real terms and relative to average incomes. But the tax code has added other features since 1913, such as the standard deduction and various tax credits that have partly offset the exemptionâs decline in value. The value of the personal exemption depends on an individualâs marginal tax rate. Think of it as a first tax bracket at a zero rate.