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, ...

As 2024 comes to a close, it’s important to consider a key tax planning aspect: managing modified adjusted gross income (MAGI). This often-overlooked and confusing figure can have significant tax ...

People understandably gripe about the complexities of the federal income tax laws. Filling out your tax return is not as easy as writing a couple of numbers on a postcard and sending it to the IRS.

Doug Whiteman is an award-winning journalist with three decades of experience covering personal finance, starting when he was the Washington, D.C.-based consumer news editor and reporter for ...

Lea Uradu, J.D., is a Maryland state registered tax preparer, state-certified notary public, certified VITA tax preparer, IRS annual filing season program participant, and tax writer. Vikki Velasquez ...

Forbes contributors publish independent expert analyses and insights. I help families thrive. Remember that a key consideration when exploring planning strategies for mitigating a taxpayer’s NIIT ...

Knowing your MAGI can help you figure out if you're eligible for certain tax deductions this filing season. Plus, learn how it differs from adjusted gross income. Many, or all, of the products ...

MAGI includes AGI plus specific deductions for Roth IRA eligibility. Tax benefits like Child Tax Credit rely on MAGI levels. Understanding MAGI helps determine tax liabilities and benefit eligibility.