(WTNH) – News 8’s Dennis House sat down with the Small Business Association Administrator Isabella Casillas Guzman when she visited Connecticut this week.
Listen to their conversation in the video above.
As the year is winding down, many of you may be checking on your finances and getting ready for tax season and the new year. During the second year of the Biden presidency, more changes are coming for you to be aware of.
The first thing to know is the IRS is adjusting tax brackets to inflation. The seven tax brackets will stay the same, but the IRS bumped up the income thresholds for all of them to account for inflation.
Next, the standard deduction will increase to $12,950 for single filers and married filers filing separately. For married couples filing jointly, it will increase to $25,900 and for heads of household, it will be $19,400.
Watch the video above for the full segment.