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Be Wealthy & Smart

3 Ways to Reduce Your 2022 Tax Bill

Be Wealthy & Smart

Linda P. Jones

News, Business News, Investing, Business

4.8883 Ratings

🗓️ 28 November 2022

⏱️ 11 minutes

🧾️ Download transcript

Summary

Discover three ways to reduce your 2022 tax bill. Please check with your tax advisor before taking action or implementing any strategies mentioned here.

The article is here: https://www.cnbc.com/2022/11/25/lesser-known-ways-to-reduce-your-2022-tax-bill-or-boost-your-refund-.html

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Transcript

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0:00.0

Be wealthy and smart, episode 1,121.

0:03.4

I'm gonna live on Rich Life.

0:08.0

All the best life.

0:10.0

You'll know what I mean, put your hands up and declare with me

0:14.3

Yeah, I'm full of bad time I'm gonna live a good good life I'm gonna live the good life

0:21.7

beautiful and glorious life Step into a world of wealth and wealth and

0:24.2

wealth and financial freedom without budgets, boredom or bosses on be wealthy and smart and now here's your host

0:36.5

Linda P Jones

0:38.7

Welcome to be wealthy and smart. I'm Linda P Jones America's wealth mentor

0:42.4

Empowering women and Men Worldwide to Financial Freedom. On today's show, we're going to talk about how to boost your refund, your tax refund that is, before your end. Now these are three lesser known ways or

0:56.5

methods that you can reduce your taxes. Everyone's got taxes on the mind

1:01.3

because we're thinking about next year, we're thinking about next year we're thinking

1:04.0

about what can we do this year to reduce our tax bill so here are three lesser

1:09.5

known ways that you might not have thought of that can help trim your tax bill.

1:14.9

So the first thing you want to do is estimate what is your income going to be for

1:19.1

2022?

1:20.8

Because once you know what your income is, we can look at your brackets and then from the

1:25.2

brackets you can determine do you have room to make more income or do you not have room to make

1:30.4

more income before you get to the next tier and have to pay more tax.

1:34.8

So we're going to quickly review what the marginal tax brackets are for 2022.

1:39.6

First for single individuals, between 0 and 10,275 dollars of taxable income, your tax is 10% of your taxable

1:48.9

income. Between 10, 276 and000, 775, your tax is $1,027.50 plus 12% of the amount over $10,275.

...

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