Tax Changes and Key Amounts for the 2022 Tax Year

October 4, 2022
By Bart Zandbergen CFP

Even though tax filing season is still months away, this is actually a great time of year to start thinking about next year’s return. After all, the more tax planning you do, the more money you may be able to save. And if you see something now that can reduce your 2022 tax bill, there’s still plenty of time to act before the year runs out. But proper tax planning requires an awareness of what’s new and changed from last year — and there are plenty of tax law changes and updates for the 2022 tax year that savvy taxpayers need to know about.

Big tax breaks were enacted for the 2021 tax year. But most of those tax law changes expired at the end of 2021. As a result, the child tax credit, child and dependent care credit, earned income credit and other popular tax breaks are different for the 2022 tax year than they were for 2021. The Inflation Reduction Act might impact your 2022 tax return, too. Other 2022 tweaks are the result of new rules or annual inflation adjustments. But no matter how, when or why the changes were made, they can hurt or help your bottom line — so you need to be ready for them.

In this article, Kiplinger pulled together a list of 29 important tax law changes and adjustments for 2022 (some related items are grouped together) on the following topics:

  1. Child Tax Credit
  2. Child and Dependent Care Tax Credit
  3. Earned Income Tax Credit
  4. Recovery Rebate Credit
  5. Premium Tax Credit
  6. Tax Brackets
  7. Long-Term Capital Gains Tax Rates
  8. Standard Deduction
  9. 100-K Forms
  10. Charitable Giving Deductions
  11. Retirement Savings
  12. Adoption of a Child
  13. Student Loan Interest Deduction
  14. Teacher Expenses
  15. Kiddie Tax
  16. Residential Clean Energy Credit
  17. Clean Vehicle Credit
  18. Bonds Used for Education
  19. Parking and Transportation Benefits
  20. Americans Working Abroad
  21. Payroll Taxes
  22. Standard Mileage Rates
  23. Long-Term Care Insurance Premiums
  24. Health Savings Accounts (HSAs)
  25. Flexible Spending Accounts (FSAs)
  26. Alternative Minimum Tax (AMT)
  27. Tax “Extenders”
  28. Self-Employed People
  29. Estate and Gift Taxes

Click HERE to access this timely tax planning information.

As always, if you have questions, please let us know how we can be of assistance as your trusted counsel.


**Zandbergen Group and its advisors do not provide legal, accounting, or tax advice. Consult your attorney or tax professional. Representatives have general knowledge of the Social Security tenets. For complete details on your situation, contact the Social Security Administration.

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The Zandbergen Group is a DBA of Axxcess Wealth Management, LLC a Registered Investment Advisor with the SEC. Bart A. Zandbergen, CA Insurance License #OA96242. Letitia S. Berbaum, CA Insurance License #OH19537. Zandbergen Group, LLC is a DBA of Axxcess Wealth Management, LLC (“Axxcess”), a registered investment advisor. Advisory services are only offered to clients or prospective clients where Axxcess and its representatives are properly licensed or exempt from licensure.