2023 Federal Income Tax Brackets: What to Expect

In 2023, the federal income tax will be based off of seven tax brackets that will range from 10% to 37%. Those earning less than $9,950 per year will fall into the 10% bracket, while those making between $9,951 and $40,525 will be subject to a 12% rate. Those making more than $523,600 will fall into the highest, 37%, bracket. Various deductions and credits may help taxpayers reduce their liabilities, depending on their unique financial situation. It’s important to take time to review the rates and brackets to ensure you’re being taxed at the right rate for your income.

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Capital Gains Tax Brackets: Understand Your Obligations

Capital gains tax brackets relate to the tax rate imposed on income generated through the sale of capital assets such as stocks, bonds, and real estate. The set of brackets can vary from country to country, state to state, or even individual to individual. For example, the United States has a progressive capital gains tax rate; as an individual’s income increases, so does the applicable tax rate. Forex traders are subject to these same capital gains tax brackets, and these can often be complex when factoring in the tax advantages of different international markets. An understanding of these tax brackets is essential for any forex investor looking to maximize their return.

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