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The Many Definitions of Modified Adjusted Gross Income (MAGI)
Modified adjusted gross income (MAGI) is often used by the IRS and other federal agencies to determine your eligibility for ...
Trump’s Big Beautiful Bill: What It Really Means for Social Security Taxes
The White House says the One Big Beautiful Bill Act got rid of taxes on Social Security; finance experts disagree.
Ask the Editor, July 25: Questions on Four New Tax Deductions
In this week's Ask the Editor Q&A, we answer tax questions from readers on four new tax deductions in the "One Big Beautiful ...
Are you eligible for the new $6,000 senior tax deduction?
In tax year 2025, an individual filer over 65 will be able to deduct up to $23,750 from their income tax return.
Who Qualifies for the New Senior Tax Bonus — and How Much Could You Get?
Like most tax breaks, it has qualifications and an expiration. Here's what you need to know about who qualifies, how much you ...
Some car buyers will get a tax break this year from the "big, beautiful bill." Here's how it works.
The tax and spending bill signed into law by President Trump on July 4 includes a limited tax break for car buyers.
AgWeb6mon
It’s Tax Time: Your Guide To Calculate Farm Income This Year
Remember, AGI is income after expenses. Most farms now have a fair number of farm equipment trades, and they usually show net gains on Form 4797 and a net loss on Schedule F.
Should You Accelerate Income or Deductions Before 2026? What Tax Experts Say
Several provisions of Trump's bill are poised to be retroactive to 2025 or take effect in 2026, and they may shift how ...
Forbes7mon
How To Get The Biggest Tax Savings On Year-End Charitable ... - Forbes
The AGI Tax Advantages From QCDs. The QCD allows you to reduce your AGI through a charitable donation without having to itemize deductions. Individual taxpayers may deduct qualified charitable ...