Preparing for the 2023 Tax Year: Ensuring a Strong Tax Saving?

• Standard deduction increase: $13,850 for single filers, $27,700 for married couples filing jointly

• Tax brackets increase: Adjusted for inflation in 2023

• Standard deduction increased for 2023 tax year to adjust for inflation

Tax Deductions and Credits 

• Child Credits: Up to $2,000 credit per dependent child under 17

• Income limit of $400,000 for married filing jointly

• $200,000 for all others

• Partially refundable up to $1,600

• Dependent Care Credits: Offset costs of services like babysitters, day care, and in-home caregivers

• Claim 20-35% of up to $3,000 ($6,000 for two or more dependents)

Education Credits

1099-K Changes Incoming

401(k) and IRA Contribution Limits

File Your Taxes With Confidence in 2024

If you opt for self-filing, we provide guidance throughout the process, offering tax reviews before submission.

If you prefer us to handle your filing, a free tax consultation is available until 12/15/2023, with fees determined by tax form complexity.

For inquiries, please contact us at [email protected]