Inflation Could Put More Money in Your Paycheck Next Year: Tax Changes for 2023
Last week’s release ofinflation data for Septembertriggered several cost-of-living adjustments, or COLA, for 2023. These included thebiggest increase in Social Security benefits in 42 years. So what does that mean for you? The changes to the tax code would then give you a bigger payday starting January 2023. Read on to learn all of the inflation-related tax changes for 2023. What are the new tax brackets for 2023? Tax bracket thresholds are going up about 7% for 2023....