Examlex
Which observation was made famous by Adam Smith in his book The Wealth of Nations?
Support
In tax terms, support refers to the financial assistance provided for the maintenance of a person, often considered in dependency exemptions.
Life Insurance Premiums
The payments made to an insurance company in exchange for life insurance coverage, which can sometimes be tax-deductible.
Standard Deduction
A fixed amount that reduces the income subject to tax, available to taxpayers who do not itemize deductions.
Dependent
A person who relies on another, usually a family member, for financial support and qualifies for certain tax benefits.
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