PODCAST | What the IRS Tax Inflation Adjustments for 2023 Tax Year Mean for You

Published on: 11/14/2022 By: Gorfine, Schiller & Gardyn

Matt Keefer, Director of Tax Services at GSG, breaks down the recent IRS tax inflation adjustments for the 2023 tax year.

The IRS is adjusting many of its rules to account for the impact of inflation, ranging from individual income tax brackets for 2023 to the standard deduction. The changes could mean tax savings for some taxpayers next year.

While the adjustments won’t apply until the 2023 tax year, understanding these changes is essential for overall tax planning, and GSG can help you to best take advantage of these potential tax savings. Join us to learn more about how your strategies might be affected when considering these inflation adjustments.

Following are some key highlights from this interview:

  • A high-level perspective on these recent IRS changes. (:33)
  • What this means for taxpayers. (2:53)
  • How can GSG help. (5:25)

Don’t forget to follow our podcast on Spotify to keep up with changes as they come. We’ll break down what you need to know and how to manage. As you plan out your 2023 strategy, it might also be helpful to download our year-end tax planning guide.

If you need guidance on how to best take advantage of these inflation adjustments and tax changes, please contact us here.

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