January 25th, 2023

Changes for tax season 2023

There are a few important changes that will be effecting many returns this year and you may see a smaller refund this year than in years past. Here are a few reasons why you may have a smaller refund. 
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For 2022, the standard deduction increased $800 to $25,900 for married couples filing jointly. For single taxpayers it increased $400 to $12,950. And for people using the head of household filing status (i.e. single parents), the standard deduction increased to $19,400, up $600 from 2021.
Stay tuned for more updates on changes in the tax law.