Financial Updates With Erin Kennedy & Peter Richon | Tax Brackets

Good news from the #IRS: inflation adjustments could mean lower tax rates come 2023! As Peter with Richon Planning explains to Erin Kennedy, tax rates are adjusted for inflation, and 2022 saw America's fastest price growth in four decades! That means most of us will be able to shield more of our income

from taxes in 2023.

Also new for 2023, the IRS is increasing the standard deduction, marking the largest adjustment to deductions since 1985! However, these significant changes underscore the importance of proactive tax planning, which is something we specialize in at Richon Planning. If you would like to talk through these changes and how they affect your unique financial goals, please reach out for a complimentary consultation by calling (919) 300-5886 or by visiting www.RichonPlanning.com

#Taxes #RetirementPlanning #WealthManagement #inflation #TaxRate #StandardDeduction