Perhaps, Your income has taken you up through the 10%, 12% and up to the 22% tax bracket.
As you apply the deductions to your income it may drop below the 22% bracket.
So in 2023 for a married couple: If you drop below $89,451 of income, you will be in the 12% bracket.
For a single taxpayer
$0 to $11,000 - 10%
$11,001 to $44,726 - 12%
$44,726 to $95372 - 24%
For Married Filing Jointly
$0 to $22,000 - 10%
$22,001 to $89,450 - 12%
$89,451 to $190,751 - 22%
Please contact us again with any questions.
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