The Internal Revenue Service announced higher federal income tax brackets and standard deductions for next year, which will be a welcomed cost of living adjustment for many Americans.
Marginal rate
Individual income
Married couples filing jointly
10%
$11,000 or less
$22,000 or less
10%
$11,000 or less
$22,000 or less
12%
$11,000 to $44,725
$22,001 to $89,450
22%
$44,726 to $95,375
$89,451 to $190,750
24%
$95,376 to $182,100
$190,751 to $364,200
32%
$182,101 to $231,250
$364,201 to $462,500
35%
$231,251 to $578,125
$462,501 to $693,750
37%
$578,126 or more
$693,751 or more
DISCLOSURES
This information is not intended to be a substitute for individualized tax advice. We suggest that you discuss your specific tax situation with a qualified tax advisor.
Securities offered through LPL Financial, Member FINRA/SIPC. Investment Advice offered through Winthrop Wealth, a Registered Investment Advisor and separate entity from LPL Financial.
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Updates | November 22, 2022
2023 Marginal Tax Brackets
By Winthrop Wealth
The Internal Revenue Service announced higher federal income tax brackets and standard deductions for next year, which will be a welcomed cost of living adjustment for many Americans.
DISCLOSURES
This information is not intended to be a substitute for individualized tax advice. We suggest that you discuss your specific tax situation with a qualified tax advisor.
Securities offered through LPL Financial, Member FINRA/SIPC. Investment Advice offered through Winthrop Wealth, a Registered Investment Advisor and separate entity from LPL Financial.