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~~Remember~~, ~~a personal exemption of $3650 ~~is not ~~deducted on ~~tax ~~but on your taxable income~~. ~~Say for example your filing status is 'married filing jointly' ~~with ~~original taxable income ~~of ~~$100~~,~~000. This will make you under ~~the ~~marginal tax rate ~~of ~~25%~~. ~~Therefore ~~the ~~money it can save you on personal exemption ~~is ~~$912~~.~~50 (calculation ~~is ~~simple: $3650 multiplied by 25%). For is they spouse, which ~~is ~~multiplied by two so you save $1825~~.
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