Some technical terms you have to deal with throughout your life can be difficult to understand. Some of the most common terms that pop up mainly in regard to taxes include gross income, adjusted gross ...

Modified adjusted gross income, or MAGI, might sound like just more tax jargon, but knowing how to calculate your MAGI is key to determining your eligibility for several valuable tax benefits, ...

While taxable income and adjusted gross income (AGI) might sound similar, they refer to different stages of your income after certain deductions and adjustments have been applied. AGI starts with your ...

If you’ve ever stared at a tax form and wondered why the same year produces two different “income” numbers, you’re in good company. Taxes can feel like assembling a puzzle with a few extra pieces ...

Each week, in our Ask the Editor series, Joy Taylor, The Kiplinger Tax Letter Editor, answers questions on topics submitted by readers. This week, she’s looking at four questions on the meaning of ...

Overtime pay deduction: Individuals who receive qualified overtime compensation may deduct the pay that exceeds their regular rate of pay. The maximum annual deduction is $12,500 ($25,000 for joint ...