2022-2023 Tax Brackets and Federal Income Tax Rates

Here is an article on Tax Brackets and Federal Tax Rates for the 2022 tax season. The Nerdwallet article focuses on the tax rates for 2022 and also, the current changes for 2023. There are seven federal tax brackets for the 2022 and 2023 tax years. Being “in” a tax bracket doesn’t mean you pay the federal income tax rate on everything you make, there is a progressive tax system which means people with higher taxable income are subject to higher federal income tax rates, and people with lower taxable incomes are subject to lower federal income tax rates. I hope this article helps explain our tax system a little better, I will discuss any questions regarding the articles this tax season.

Bob Donica

Source: Nerdwallet | Repost RE Donica & Associates 2/2/2023 –

There are seven federal tax brackets for the 2022 and 2023 tax years: 10%, 12%, 22%, 24%, 32%, 35% and 37%. Your bracket depends on your taxable income and filing status.

Learn more…


More Posts

The Benefits of Having a Roth IRA As Part of Your Portfolio

The Roth IRA (Individual Retirement Account) is one of the most powerful investment accounts you can have to help maximize your retirement savings with its unique tax advantages and flexibility. Despite its considerable benefits, it remains underutilized by many who could benefit from its features. Here is a quick breakdown of the rules around the

Understanding IRMAA and Social Security for High-Income Retirees

Understanding how your income affects your Social Security benefits and Medicare premiums is crucial as you approach or navigate through retirement. For high-income retirees, two critical factors come into play: the Income-Related Monthly Adjustment Amount (IRMAA) and the potential taxation of Social Security benefits. Both elements can significantly impact your retirement budget, making strategic planning

Capital Gains Tax: How It Works, Rates and Calculator

(317) 912-2100 [email protected] Mon – Sat: 10:00 AM – 6:00 PM 10763 Allisonville Rd Fishers, IN 46038 Capital gains tax is a crucial consideration for investors, levied on the profit from the sale of assets like stocks or real estate. The tax rate varies based on the asset’s holding period and the taxpayer’s income level,

The Ultimate Guide to Filling Out Your W-4 for Maximum Tax Benefit

Navigating the complexities of tax forms can be a daunting task for many taxpayers in the United States. However, understanding how to properly fill out a W-4 form can significantly impact your financial health, ensuring you maximize your take-home pay while minimizing your tax liabilities. This guide is designed to help the everyday taxpayer get

Send Us A Message

Scroll to Top