Broker Check

Handy numbers for tax season

March 19, 2024

There are a lot of important numbers that we try to keep in our heads during tax time. Understandingly, it's a bit much. πŸ€“

We have a Tax Cheat Sheet to help. During tax time, we try to remember:

πŸ“Tax rates, and tax brackets for each of the tax rates
πŸ“Alternative Minimum Tax (AMT) phase-ins 
πŸ“Capital Gains Taxes
πŸ“How much you can put in a 401k, IRA or Roth IRA every year
πŸ“What are the Medicare Premiums for wages based on the prior, prior year's income (aka the Income-Related Monthly Adjustment Amount/IRMAA)
πŸ“And how all these rates change for Single vs Married Filling Joints, etc.


Yikes. That's a lot. 

As your helpful financial guy, I've got you covered.

We had all these numbers put together in one double-sided page.  We call it our Tax Cheat Sheet.

Feel free to print this out and tape it along with your tax stuff. πŸ‘¨‍πŸ’ΌπŸ“„



I'm also providing a couple more of our favorite tax-related articles that help explain tax income brackets,  capital gains brackets, and marginal tax rates.

Hope you find this helpful.


For our clients, we ask for a copy of their tax returns after they are filled. This is SO IMPORTANT for financial planning. It blows my mind that there are advisors out there who will give financial planning advice and never even ask for a tax return. Nearly all investment decisions, cash flow decisions, and savings decisions have a tax impact. The tax return is your real-time statement for taxes. if your advisor isn't asking for taxes, ask them why not.