AGI. The amount used in the calculation of an individuals income tax liability;...
A person's total income, as reported on his or her IRS 1040 tax return form, after allowable contributions, deductions and expenses (alimony).
The amount used in the calculation of an individual's income tax liability. It is equal to one's income after certain adjustments are made, but before standardized and itemized deductions and personal exemptions are made. Includes all of the income you received over the course of the year such as wages, interest, dividends and capital gains minus things such as business expenses, contributions to a qualified IRA, moving expenses, alimony and capital losses.
All income subject to tax under the individual income tax after subtracting "above-the-line" deductions, such as certain contributions for individual retirement accounts and alimony payments. Taxable income is then derived by subtracting personal exemptions and the standard or itemized deductions from AGI.
Earned income plus net passive income, portfolio income and capital gains.
Taxable income after all allowable adjustments are made.
Gross income after availing any applicable deduction, such as student loan interest etc.
The income figure taken from the IRS income tax forms and required on the various financial aid applications.
The amount of income remaining after subtracting adjustments to income from gross income.
Income less certain deductions and expenses (including those related to education). It is the amount on Line 21 of IRS Form 1040A (or Line 4 on 1040EZ or Line 35 on 1040). This amount is used for several purposes, including eligibility for tax benefits.
Gross income minus allowable reductions.
Gross income less certain adjustments, including IRA, alimony, and Keogh deductions. Used in determining the investor's passive loss allowance.
Gross income reduced by certain amounts, such as a deductible IRA contribution or student loan interest
This is the income amount on which a taxpayer computes deductions that are based on, or limited by, a percentage of his or her income in order to figure out federal taxable income. AGI is determined by subtracting from gross income any deductible business expenses and other allowable adjustments (some traditional Individual Retirement Account annual contributions, SEP and Keogh annual contributions, and alimony payments).
Gross income, including all items of income required to be included, reduced by deductions for adjustments to gross income, such as alimony paid, deductible IRA contributions, 50 percent of self-employment tax paid, etc. AGI is a crucial number in determining the deductibility of various expenditures and certain credits against the income tax.
Income minus allowable exclusions (such as IRAs and alimony)
Income listed on your family’s income tax return
an individual taxpayer's income after deducting exempt income and certain allowed reductions. Itemized deductions, the standard deduction or personal exemptions further reduce AGI, resulting in "taxable income."
All taxable income minus IRS allowable adjustment to income. This figure is from the U.S. IRS Income Tax return forms Form 1040, Form 1040A, or Form 1040EZ.
Gross income of a building if full rented, less an allowance for vacancies. A person's income after taxes. Adjustable Rate Mortgage (ARM) - stands for Adjustable Rate Mortgage, also referred to as a Variable Rate Mortgage. They both mean the same thing. An ARM is a mortgage with an interest rate that adjusts periodically to reflect changes in market conditions. Your mortgage payments are adjusted up or down (usually on an annual basis) as the interest rate changes. To protect you in a rising interest market, rate increases are limited (usually 2 percentage points annually; 6 percentage points over the life of the loan).
All income received over the course of a year (wages, interest, dividends, capital gains, etc), after certain adjustments, including business expenses, alimony, moving expense, as specified on IRS Form 1040.
The adjusted gross income is the level of income on which federal income tax is assessed, before any deductions and personal exemptions are made. This amount may be used for computing limitations on certain deductions, such as those for charitable gifts.
Also known as AGI, it's your individual income before personal exemptions or standard or itemized deductions. It's the total of wages, interest, dividends, capital gains (or up to $3,000 in losses), profit or loss from real estate or pass-through entities (e.g., S corporation), pension income and certain other items less contributions to an IRA or Keogh plan, one-half of any self- employment income, and health insurance for self-employed individuals, and certain other deductions.
Amount of income that is subject to federal income tax. When you participate in deductible contribution plans such as IRAs, 401(k) plans and any other tax credits your adjusted gross income is lowered which results in a lower tax burden.
Total income less allowed adjustments, which include such items as moving expenses, IRA, and Keogh contributions, and employee business expenses.
Your gross income (earned wages and commissions) after all allowable deductions.
The amount used in the calculation of an individual's income tax liability. It is equal to one's income after certain adjustments are made, but before standardized and itemized deductions and personal exemptions are made. Advisory Service - A service t offers investment information (usually buy and sell advice) for a fee.
All income subject to tax less certain deductions permitted by law, such as in un-reimbursed business expenses, alimony, contributions to IRAs, etc. It is used as a basis for determining the amounts deductible for miscellaneous deductions, casualty or theft losses and medical expenses.
A figure taken from IRS Form 1040, 1040A, or 1040EZ that represents all taxable income minus IRS allowable adjustments to income.
Ad valorem tax
The level of income on which you pay federal income tax, before any deductions and personal exemptions. This amount is used as a starting point for computing limitations on certain deductions.
All taxable income minus deductions.
Gross income reduced by business and other specified expenses of individual taxpayers. The amount of adjusted gross income affects the extent to which medical expenses, non business casualty and theft losses and charitable contributions may be deductible. It is also an important figure in the basis of many other individual planning issues as well as a key line item on the IRS form 1040 and required state forms.
For federal income tax purposes, gross income less adjustments (e.g., IRA deductible contributions, self-employment health insurance deductions, etc.), but before standard or itemized deductions and personal exemptions.
Income (including wages, interest, capital gains, income from retirement accounts, alimony paid to you) adjusted downward by specific deductions (including contributions to deductible retirement accounts, alimony paid by you); but not including standard and itemized deductions. AGI is the number at the bottom of page 1 of the 1040 Tax Form.
An individual taxpayer's total income minus deductions (adjustments) for individual retirement plan contributions and alimony paid.
The sum of an individual’s taxable income for the year is the total at the bottom of the first page of Form 1040. Individuals may deduct charitable cash contributions up to 50% of AGI; they may deduct gifts of appreciated securities and appreciated property up to 30% of AGI.
Total income reduced by certain amounts such as contributions made to a traditional IRA or for student loan interest payments.
Total income reduced by certain amounts, such as for an IRA or student loan interest.
Taxable income after all allowable deductions are made, such as IRA deductions, moving expenses, self-employment taxes and health insurance, Keogh retirement plans, and alimony paid.
Income figure on federal tax returns used to perform need analysis.
Taxable income from all sources. (See your Federal Income Tax Form 1040 EZ, line three, or Form 1040, line 31.)
The amount of your income that is taxable. AGI consists of your gross income from taxable sources minus certain items, such as payments to a Keogh plan or a deductible Individual Retirement Account. AGI minus deductions and personal exemptions equals your taxable income.
Gross, or total, income minus any allowed deductions (other than the standard deduction/itemized deductions or deduction for exemptions), or adjustments to income.
Adjusted gross income equals gross income less reductions that are allowable regardless of whether personal deductions are itemized. On the 1999 tax forms, AGI is entered on line 4 Form 1040EZ, line 18, Form 1040A, and line 33, Form 1040.
The amount of income (or loss) on a Federal Tax return, after all deductions, on which the payment of income tax is based.
Gross income (defined later) minus adjustments to income (defined next).
Gross income of a building if fully rented, less an allowance for estimated vacancies.
An interim calculation in the computation of income tax liability. It is computed by subtracting certain allowable adjustments from gross income.
The total of an individualâ€(tm)s income on a tax return after all allowable deductions have been subtracted.
The amount on which an individual pays income tax.
All taxable income as reported on a U.S. income tax return.
An individual’s income from all taxable sources, minus certain adjustments but before deductions and exemptions -- the total at the bottom of the first page of Federal Income Tax Form 1040. Individuals may deduct charitable cash contributions up to 50 percent of AGI; they may deduct gifts of appreciated securities and appreciated property up to 30 percent of AGI.
Amount of income remaining after the expenses of earning that income have been deducted.
Adjusted gross income is the amount of money for which you pay state and federal income tax. On your tax return, you start with your actual income, then you make adjustments for exemptions and credits. The final amount becomes your adjusted gross income because it has been "adjusted". You then turn to the tax tables to figure out the amount of tax you owe on your adjusted gross income.
The total rental income of a building if fully rented, less an allowance for projected vacancies and collection loss.
Taxable income from all sources, minus adjustments for contributions to tax- preferred retirement and medical savings accounts, self-employment taxes and health insurance costs, moving expenses, alimony payments, and so forth. Personal deductions and the applicable standard or itemized deductions are subtracted from AGI to determine taxable income. Also see “Income” and “Taxable income.
Your federal adjusted gross income from all sources reduced or increased by all California income adjustments.
All taxable income less IRS allowable adjustments to income. This figure is taken from an individual's federal tax form.
It is used to determine how much of your income is taxable. AGI is determined by subtracting your maximum allowable adjustments from your gross income.
The amount of income considered actually "available" to be taxed. Adjusted gross income is gross income reduced principally by business expenses incurred to earn the income and other specified reductions (such as alimony).
Gross income minus deductions for certain expenses.
All taxable income is included, less I.R.S. allowable adjustments. This figure appears on the income tax returns provided by the state and federal governments.
AGI is a computation used to help determine an individual's federal taxes. Basically, AGI is the amount of money a person makes (such as wages, dividends, Social Security, etc.) minus certain deductions (such as IRA, Keogh and SEP contributions, etc.).
An individual's gross income before deducting tax exemptions and itemized or standard deduction.
Adjusted gross income (AGI) is determined when a taxpayer calculates income tax liability on his or her federal income tax return. AGI is determined by adding all sources of income such as wages and interest income and subtracting certain deductions and adjustments to income.
The total rental income amount a property generates, minus expenses and vacancies.
Total taxable income (including wages, interest, capital gains, etc.) adjusted downward for certain deductions but not including standard or itemized deductions.
Your total income including your salary and bonuses, as well as any rental or seasonal income. Your lender or broker will look at your adjusted gross income to find out if you make enough money to qualify for a loan. You can find your adjusted gross income on line 32 of your 1040 income tax statement.
A person's entire income reduced by adjustments including a deduction for an IRA (Individual Retirement Account), medical savings accounts, and alimony paid to an ex-spouse. Note to the wise: Saving money now in an IRA for your retirement (yes, even though it seems like a million years away) could be one of your smartest moves yet.
Adjusted gross income is the figure used to compute your federal income tax. It's your gross income minus some deductions, including IRA contributions (as well as SEP, SIMPLE and Keogh contributions), medical savings account contributions, moving expenses, alimony payments and contributions toward health insurance for the self-employed. AGI doesn't include standard or itemized deductions.
Total income as reported on Federal Form 1040, including allowable adjustments such as IRA contributions, alimony expense among others.
Used to determine how much of your income is taxable. AGI consists of gross income from taxable sources minus your maximum allowable adjustments.
Source: Congressional Budget Office Definition: All income subject to taxation under the individual income tax after subtracting â€above-the-lineâ€ deductions, such as certain contributions for individual retirement accounts and alimony payments. Personal exemptions and the standard or itemized deductions are subtracted from AGI to determine taxable income.
On a federal income tax return, AGI is calculated by first combining income from all sources, and then subtracting certain allowable deductions and adjustments to income.
The total income of a taxpayer before deducting any itemized deductions or personal exemption allowances.
A computation used in calculating income taxes, computed by subtracting allowable deductions from gross income.
Federal tax term which refers to the difference between a taxpayers gross income and adjustments to that income, which may include deductions for individual retirement accounts (IRA) and Keogh pension plans, which may be invested in real estate. Adjusted gross income is the basis for determining the limitations or eligibility of other components, such as miscellaneous expenses (2% of AGI), in calculation of taxpayer's tax liability.
This is your income from all taxable sources minus certain adjustments and is the key to determining your eligibility for certain tax benefits and the phase-out of your eligibility for others. It's the amount which deductions (the standard deduction or itemized deductions) and the value of personal and dependent exemptions are deducted from to arrive at the amount that will be taxed. The adjustments are called above-the-line deductions because you can claim them whether or not you itemize deductions. Some include deductible contributions to IRA s (individual retirement accounts), SIMPLE and Keogh plans, contributions to HSAs (health savings accounts), job-related moving expenses, any penalty paid on early withdrawal of savings, the deduction for 50% of the self-employment tax paid by self-employed taxpayers, alimony payments, and up to $2,500 of interest on higher education loans. Also deductible as adjustments to income are qualifying travel expenses for members of the Reserves and National Guard.
Income after adjustments for social security taxes; federal, state, and local taxes; health-care costs; business income or loss; retirement and/or social security benefits; also referred to as net income.
All the income you received over the course of the year such as wages, interest, dividends and capital gains minus things such as business expenses, contributions to a qualified IRA, moving expenses, alimony and capital losses. The adjusted gross income is used to calculate federal income tax.
Total personal income for the tax year minus allowable adjustments, such as unreimbursed business expenses, contributions to a traditional IRA and alimony payments. It is the income used to calculate federal income tax.
Adjusted gross income (AGI) is a United States tax term for an amount used in the calculation of an individual's income tax liability. It includes all gross income adjusted by certain allowed deductions, and is an important benchmark determining certain other allowed benefits. For example, most limitations on deductions or credits are determined based on either AGI or modified adjusted gross income (MAGI), which is AGI modified by certain amounts specific to the given limitation.