Now that the holidays are here, your monetary thoughts may center on gift planning, travel, and social events. You should also consider what the IRS’s recent inflation adjustment announcement may mean for your year-end tax planning and funding those holiday expenses. What capital gains to realize now vs. how much income to delay until 2023 depends in part on the possible changes in your tax bracket and expected deductions.
Asset Advisors works with you and your accountant to handle your capital gains (or losses) and provide the cash flow you need for this tax year and next. Give us a call today at (706) 650-9900.
For more information on changes in tax brackets and standard deductions, visit irs.gov directly or see this article from Forbes.