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Revision as of 21:39, 26 July 2026


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Remember, an individual 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 allows you to under the marginal tax rate of 25%. The actual money you save on personal exemption is $912.50 (calculation is simple: $3650 multiplied by 25%). For you and your spouse, which are multiplied by two and save $1825.

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Someone making $80,000 each and every year is not really making a lot of salary. The fed's 'take' is a lot now. Duty originally started at 1% for the very rich. And now the government is visiting tax you more.

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