#52: IRS NEWS – 2023 Tax Bracket Updates

In this episode of the podcast, Chris and John from the Teaching Tax Flow team dive deep into the newly released tax brackets for 2023. Tax planning can be intimidating, but understanding your tax bracket and Marginal Tax Rate (MTR) can make a difference in your financial planning.

Tune in as Chris and John break down the crucial distinction between your tax bracket and MTR and why both are essential concepts to grasp. They’ll shed light on how your tax bracket is determined and how it can affect your overall tax liability.

But that’s not all! The hosts also explain why knowing your MTR is equally important. Discover why the MTR often plays a more significant role than your tax bracket in determining the amount you owe (or save) to the IRS.

As Chris and John dig into the intricacies of tax planning, you’ll gain valuable insights into how understanding these concepts can help you make informed decisions about your finances. Whether you’re a seasoned taxpayer or just starting your financial journey, this episode will equip you with the knowledge you need to navigate the ever-changing world of taxes.

Join us for an enlightening discussion on the significance of tax planning and gain the confidence to make smarter financial choices in 2023 and beyond.

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FREE Tax Planning Masterclass (10/20/2023):
http://www.us06web.zoom.us/webinar/register/WN_LwCP3BHISqCapcSRbZzMfw

Resources:
http://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2023

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Episode Sponsor:
Integrated Investment Group

http://www.integratedig.com