Photo: Getty Images
Price inflation has put a lot of stress on most people's wallets lately -- but believe it or not, high inflation could actually save you some money at tax time!
Each year, the federal government adjusts the tax code, tweaking things like the standard deduction or tax brackets... And with inflation at a 40-year high, those tweaks are expected to be much greater this time around.
That means you could potentially find yourself in a lower tax bracket this year.
And some analysts even expect the standard deduction to increase by more than $1,100 in 2023.