Firstly, Thanks for the input to all here. It really helps. Even
If one does not have specefic questions - just reading the forum
Increases my knowledge.

The question I have is, I am going through process applying for
E-3. Hope to get there soon ! I wanted to know are their any
Allowances I will be able to claim ( joint tax return with my wife)
As I am living away from home (Australia).

What are the allowances if any ?

For allowances you should discuss with your employer. When you file your tax return as married filing jointly as resident, you will get standard deduction of 2 x $5,450 and exemption of 2 x $3500.

Thanks MukatA,
Allowances mean I was more so asking about deductions.

So Deductions of ~11k as a joint resident which means that's
a saving of 11k*my tax bracket.

And, exeption of 7k means tax rate on that 7k = zero...

Just to get my understanding right. Lets say I earn 75k.
Taxable income = 75-11=64k
and then first 7k will be zero taxed i.e. rest 57k will be
taxed per the % rates...

Is that right ?

Yes, your taxable income is 57K. Download Forms 1040-EZ and 1040 from Internal Revenue Service (http://www.irs.gov) and go through it.

Actually, you also get to deduct about $7,000 ($3,500 for each personal exemption), so your taxable incoem will be about $50,000.