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How inflation will affect your 2022 and 2023 tax bills
November 1, 2022
Categories: #hh, General, GiftTax, inflation, Retirement, Tax, Tax Records, Travel
The effects of inflation are all around. You’re probably paying more for gas, food, health care and other expenses than you were last year. Are you wondering how high inflation will affect your federal income tax bill for 2023? The IRS recently announced next year’s inflation-adjusted tax amounts for several provisions. Some highlights Standard deduction. What does an increased standard deduction mean for you? A larger standard deduction will shelter more income from federal income