Let’s face it – nobody likes paying income tax. If only there was a way to reduce the amount you were paying each year. The good news is that there is! Below, we provide you with a few handy tips on how income tax can be saved without very much effort required on your part.
Think you know what income tax bracket you fall into? Think again! On Oct. 18, 2022, the IRS announced the annual inflation adjustments for the 2023 tax year which will be different from those in effect for 2022. Here is the breakdown to determine which tax bracket you fall into for your 2022 tax returns: