John M. Hoffman & Associates CPAs

Frequently Asked Questions

Important Tax Numbers ($'s)

• Personal Exemption

Tax Year	2009	2010
Per Individual	$3,650	$3,650
Dependent Child	0	0
Alternative Minimum Tax (AMT) (single)	$46,700	$46,700
AMT (married filing jointly)	$70,950	$70,950
Simple Trust	$100	$100
Complex Trust	$300	$300

As you can see a dependent child gets no personal exemption (as the person claiming that individual gets the exemption instead).

AMT exemptions are very important and are phased out as income rises.