FILE – A portion of the 1040 U.S. Individual Income Tax Return form is shown July 24, 2018, in New York. Taxpayers will get fatter standard deductions…

FILE – A portion of the 1040 U.S. Individual Income Tax Return form is shown July 24, 2018, in New York. Taxpayers will get fatter standard deductions for 2023 and all seven federal income tax bracket levels will be revised upward as the government allows people to shield more of their money from taxation because of persistently high inflation. For couples who file jointly for tax year 2023, the standard deduction increases to $27,700 up $1,800 from tax year 2022, the IRS announced. (AP Photo/Mark Lennihan, File)

Your Money Matters

Caleb Silver: Getting to know what tax bracket you’re in

by: Andrew Harris

Posted: Dec 4, 2022 / 11:30 PM CST

Updated: Dec 4, 2022 / 06:41 PM CST

FILE – A portion of the 1040 U.S. Individual Income Tax Return form is shown July 24, 2018, in New York. Taxpayers will get fatter standard deductions…

by: Andrew Harris

Posted: Dec 4, 2022 / 11:30 PM CST

Updated: Dec 4, 2022 / 06:41 PM CST

Caleb Silver from Investopedia joins Jon Hansen on Your Money Matters to explain how the numbers for income brackets work. Caleb also addressed what we can do to help ourselves out when it comes to our tax brackets.