2023 Tax Plan

We’re always working to save you money on your taxes, so we

analyzed your 2022 return to
help you plan for next year and
beyond.

Your tax bracket this year was: Next year, you could save:

12% $400
Looking Forward to 2023

Here are some tips and strategies that we've prepared for you.

Remember, it's never too early

to start planning.*

Here's the plan see details on next page

Download your TaxAct 2023 Tax Plan

Put your money into a 401(k). $220

Contribute $1,000 to a traditional IRA. $120

Contribute $500 to FSA. $60

What you could save in 2023 $400

* Actual deductions and credits vary. 2023 Tax Plan based on information you provided and the 2022 marginal tax rate.

Strategies are for informational purposes only and do not constitute legal or tax advice. Other tax strategies likely

exist. Consult your financial advisor.

 Your 2023 Tax Plan

Put Money Into Your 401(K): $220

Contributions to your 401(k) aren't included in you taxable wages. By increasing how much you contribute to your
plan, you can save for your retirement and on your tax bill.

Contribute To A Traditional IRA: $120

You're in the 12% income tax bracket, which means if you contributed $1,000 to a traditional IRA, your refund
would increase by about $120 next year.

Contribute To Your FSA: $60

Contribute $500 to a Flexible Spending Account - you could save $60 in taxes.
 Additonal Tips and Tricks

Exert Your Willpower Plan Your Estate

If you don't have a will, the state may make one for Create a personal trust to preserve your wealth
you, which won't necessarily be in you or your after you're gone.
family's best interest.

Refinance Your Student Loans Plan Your Purchases

Refinancing the interest rate on an average-sized Get highest possible deduction on business
student loan ($28,500) could save you $1,700 over expenses by purchasing them in years where you
10 years. expect to report high income.

Spread Your Payments Out 529 Savings Plan

Avoid tax penalties by paying over the course of Start saving for your children’s education by
the year and paying at least as much tax as you did making contributions to a 529 savings plan.
the year before.

Saving With Uncle Sam Start A Side Hustle

You could save on your taxes by investing in Love to knit? Live to paint? Sell your goods or
federal tax-exempt securities. services and you could enjoy a whole bunch of
additional deductions.