Where and When i found it?
I found this word excemption while I was teaching 12th grade math at Gates Chili High school. We were learning about income tax.
What it means?
Excemption in the context of taxes means, one who is excempted, especially an amount of income that is excempted from taxation. (http://www.thefreedictionary.com/)
Level of familiarity:
I am definitely familiary with this word because of doing my taxes. Although it is not a word I use on a daily basis, but I do know the definition and would be comfortable using it in context.
Do I think I should know this word and why?
This word is important, everyone has to do taxes. Not only does excempt describe you taxes it is also a commonly used word to describe how someone does not have to do something.
Do I think others should know this word well why?
Yes I do, everyone has to submit taxes and we should all know what amount we are eligable to be excempt from. Also it is a commonly used word.
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