Welcome back! Ask questions, get answers, and join our large community of tax professionals.
Showing results for 
Search instead for 
Did you mean: 

Help Me Figure This Out

Level 15

Single taxpayer.

2022 taxable income:  $45,354.  

2022 tax:  $5,600   

2023 taxable income:  $44,696

2023 tax:  $5,141   

Taxable income decreases by $658.

Tax decreases by $459.

I know she's on the cusp of a tax bracket, but really?  $658 less income results in $459 less tax?  That's a 70% cut.  

0 Cheers