Tax Planning
The goal is simple: minimize your tax!
We offer tax planning techniques that will keep more of your hard-earned money in your pocket. We'll look at your entire financial situation and make recommendations to reduce taxes now and in the future.
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It's a proactive, year-round approach that analyzes and arranges a person's financial situation to maximize tax breaks and minimize tax liabilities.
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Tax laws, regulations, and the economy are ever-changing and have a crucial impact on our lives. We're all obligated to pay the taxes we owe. Tax planning presents the options available so that you’re in an excellent position to preserve more of your money.
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Focus on your specific questions and concerns. Reducing your tax liability frees up funds that can be used to accomplish other goals like paying off debt, creating an emergency fund, or funding your retirement.
Executing strategies that reduce your tax burden is a year-round process, not something you do right before the tax due date.
Find out how we can decrease your Federal and State taxes.
The first step in your tax planning strategy is to understand which tax bracket you fall in.
2023 Tax Brackets &
Federal Income Tax Rates
Single Filers
Tax rate
10%
12%
22%
24%
32%
35%
37%
Tax owed
10% of taxable income.
$1,100 plus 12% of the amount over $11,000.
$5,147 plus 22% of the amount over $44,725.
$16,290 plus 24% of the amount over $95,375.
$37,104 plus 32% of the amount over $182,100.
$52,832 plus 35% of the amount over $231,250.
$174,238.25 plus 37% of the amount over $578,125.
Taxable Income
$0 to $11,000
$11,000 to $44,725
$44,726 to $95,375
$95,375 to $182,100
$182,101 to $231,250
$231,251 to $578,125
$578,126 or more
Head of household
Tax rate
10%
12%
22%
24%
32%
35%
37%
Taxable Income
$0 to $22,000
$22,001 to $89,450
$89,451 to $190,750
$190,751 to $364,200
$364,201 to $462,500
$462,501 to $693,750
$693,751 or more
Tax owed
10% of taxable income
$2,200 plus 12% of the amount over $22,000
$10,294 plus 22% of the amount over $89,450
$32,580 plus 24% of the amount over $190,750
$74,208 plus 32% of the amount over $364,200
$105,664 plus 35% of the amount over $462,500
$186,601.50 + 37% of the amount over $693,750
Married, filing jointly
Tax rate
10%
12%
22%
24%
32%
35%
37%
Taxable Income
$0 to $22,000.
$22,001 to $89,450
$89,451 to $190,750
$190,751 to $364,200
$364,201 to $462,500
$462,501 to $693,750
$693,751 or more
Tax owed
10% of taxable income.
$2,200 plus 12% of the amount over $22,000
$10,294 plus 22% of the amount over $89,450
$32,580 plus 24% of the amount over $190,750
$74,208 plus 32% of the amount over $364,200
$105,664 plus 35% of the amount over $462,500
$186,601.50 + 37% of the amount over $693,750
Married, filing separately
Tax owed
10% of taxable income
$1,100 plus 12% of the amount over $11,000
$5,147 plus 22% of the amount over $44,725
$16,290 plus 24% of the amount over $95,375
$37,104 plus 32% of the amount over $182,100
$52,832 plus 35% of the amount over $231,250
$93,300.75 plus 37% of the amount over $346,875
Tax rate
10%
12%
22%
24%
32%
35%
37%
Taxable Income
$0 to $11,000.
$11,001 to $44,725
$44,726 to $95,375
$95,376 to $182,100
$182,101 to $231,250
$231,251 to $346,875
$346,876 or more