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●TAX PREPARATION● ACCOUNTING ● BOOKKEEPING ● ●BUSINESS CONSULTATION●

2023 Tax Year UPDATE:

Tax Year 2023 Information:

Standard Deduction

▪ Single$13,850▪ Married Filing Joint$27,700▪ Head of Household$20,800▪ Married Filing Separate$13,850

Child Tax Credit
The child tax credit is $2,000 per child, and the age limit is 16 years old and under. The credit is only partially refundable to certain lower income qualifying individuals.

Earned Income Tax Credit
The earned income tax credit age limitations remain the same(minimum 25 years old; maximum 65 years old).

Child and Dependent Care Credit
The child and dependent care credit maximizes at 35% and isnon-refundable.

Premium Tax Credit
Regular eligibility requirements apply for the premium tax credit.

Educator Deduction
The educator deduction remains $300.

DISCLAIMER:

Please note, the material contained in this article is for informational purposes only, is general in nature, and should not be relied upon or construed as a legal opinion or legal advice. As this information is in summary format with many specific qualifying and limiting conditions that may not be listed here, the information may or may not apply to your individual situation. Most importantly, please keep in mind this information is changing rapidly and is based on our current understanding. It can and likely will change. Although we will be monitoring and updating this as new information becomes available, please do not rely solely on this for your financial decisions. We encourage you to consult with your CPA for clarification and to see if it fits your particular situation.

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●TAX PREPARATION● ACCOUNTING ● BOOKKEEPING ● ●BUSINESS CONSULTATION●

2023 Tax Year UPDATE:

DISCLAIMER:

Tax Accounting & Bookkeeping Services

Your Taxes, Simplified.

Your Business is Important!

TAX RESOLUTION SPEICALISTS

EXPERIENCED / KNOWLEDGEABLE STAFF

Contact Us

Chris A. Caldwell CPA, PLLC

Hours

●TAX PREPARATION● ACCOUNTING ● BOOKKEEPING ● ●BUSINESS CONSULTATION●

2023 Tax Year UPDATE:

DISCLAIMER:

Tax Accounting & Bookkeeping Services

Your Taxes, Simplified.

Your Business is Important!

TAX RESOLUTION SPEICALISTS

EXPERIENCED / KNOWLEDGEABLE STAFF

Contact Us

Chris A. Caldwell CPA, PLLC

Hours

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