RV_ Posted October 18, 2022 Report Share Posted October 18, 2022 (edited) Excerpt: "Automatic annual adjustments mean higher thresholds for income tax brackets and a heftier standard deduction The Internal Revenue Service will allow Americans to shield more of their income from taxes in 2023 because of higher inflation, the agency announced Tuesday, raising income thresholds for all tax brackets and increasing the standard deduction. The top tax rate of 37 percent will apply to individuals with income exceeding $578,125 and married couples filing jointly with income more than $693,750. Both of those amounts are up 7 percent from 2022 to track with increases in the consumer price index. The standard deduction — the baseline amount of income that filers can collect tax free — will increase to $13,850 for individuals and $27,700 for married couples. It is the largest adjustment to deductions since 1985, when the IRS began annual automatic inflationary adjustments." More with charts in the article here: https://www.washingtonpost.com/us-policy/2022/10/18/irs-deductions-brackets-inflation/?location=alert Edited October 19, 2022 by RV_ Quote RV/Derekhttp://www.rvroadie.com Email on the bottom of my website page.Retired AF 1971-1998 When you see a worthy man, endeavor to emulate him. When you see an unworthy man, look inside yourself. - Confucius “Those who can make you believe absurdities, can make you commit atrocities.” ... Voltaire Link to comment Share on other sites More sharing options...
Jim & Alice Posted October 18, 2022 Report Share Posted October 18, 2022 Thanks for the heads-up, Derek. Quote 2007 Dolphin Safe-T-Plus Steering Bar Our Blog: Click Here Link to comment Share on other sites More sharing options...
RV_ Posted October 19, 2022 Author Report Share Posted October 19, 2022 YW Jim. I just edited it because the chart was not there. It is now. Quote RV/Derekhttp://www.rvroadie.com Email on the bottom of my website page.Retired AF 1971-1998 When you see a worthy man, endeavor to emulate him. When you see an unworthy man, look inside yourself. - Confucius “Those who can make you believe absurdities, can make you commit atrocities.” ... Voltaire Link to comment Share on other sites More sharing options...
Ray,IN Posted October 19, 2022 Report Share Posted October 19, 2022 (edited) Thank you Derek! That is welcome information. Something else would be welcome too. I wish President Biden would declare another withdrawal holiday for IRA MRD requirements. Since Jan. 1 2022 my IRA has decreased in value(over 20%) several times more than the MRD calculated on the same day. Edited October 19, 2022 by Ray,IN Quote 2000 Winnebago Ultimate Freedom USQ40JD, ISC 8.3 Cummins 350, Spartan MM Chassis. USA IN 1SG retired;Good Sam Life member,FMCA ." And so, my fellow Americans: ask not what your country can do for you--ask what you can do for your country. John F. Kennedy 20 Jan 1961 Link to comment Share on other sites More sharing options...
RV_ Posted October 22, 2022 Author Report Share Posted October 22, 2022 YW Ray! I was hoping Tesla would drop a bit lower before going back up but we will see if I get a buy opportunity at my price. We shall see over the next year for sure. Quote RV/Derekhttp://www.rvroadie.com Email on the bottom of my website page.Retired AF 1971-1998 When you see a worthy man, endeavor to emulate him. When you see an unworthy man, look inside yourself. - Confucius “Those who can make you believe absurdities, can make you commit atrocities.” ... Voltaire Link to comment Share on other sites More sharing options...
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