An article by Thomas Brinker, Jr., LLM, CPA, CFE, ChFC, PFS, AEP, Professor of Accounting and Executive Director of the MBA program, “Has Claiming the Dependency Exemption Become Simplified, Clarified, or More Complicated with Recent Changes?” will be published in the Accounting and Taxation column of the Journal of Financial Service Professionals September 2012 issue.

The column, written in collaboration with W. Richard Sherman, JD, LLM, CPA, an accounting professor at Saint Joseph’s University, explores some of the often overlooked details of the dependency exemption. Brinker and Sherman identify the important impact of a permanently disabled child and clarify that, while the amount of a dependency exemption is the same for all taxpayers, the tax benefit of the deduction varies among taxpayers due to differential tax brackets. They discuss that with the potential return of the phaseout of personal and dependency exemptions, the benefit may be reduced or even reversed.