Adjusted gross income

(redirected from AGI)
Also found in: Dictionary, Thesaurus, Medical, Legal, Acronyms, Encyclopedia, Wikipedia.

Adjusted gross income (AGI)

Gross income less allowable adjustments, which is the income on which an individual is taxed by the federal government.

Adjusted Gross Income

In U.S. tax, an individual's taxable income after all specific deductions, but not standard or itemized deductions. Adjusted gross income is used to calculate one's tax liability, as well as eligibility for certain social programs. For example, contributions to health savings accounts are not taxable. Thus, one removes the amount contributed to such an account from his/her gross income before calculating his/her tax liability.

adjusted gross income

The amount of taxable income that remains after certain allowed business-related deductions—such as alimony payments, contributions to a Keogh retirement plan, and in some cases, contributions to an IRA—are subtracted from an individual's gross income. Adjusted gross income and gross income will be the same for many taxpayers.

Adjusted gross income (AGI).

Your AGI is your gross, or total, income from taxable sources minus certain deductions.

Income includes salary and other employment income, interest and dividends, and long- and short-term capital gains and losses. Deductions include unreimbursed business and medical expenses, contributions to a deductible individual retirement account (IRA), and alimony you pay.

You figure your AGI on page one of your federal tax return, and it serves as the basis for calculating the income tax you owe. Your modified AGI is used to establish your eligibility for certain tax or financial benefits, such as deducting your IRA contribution or qualifying for certain tax credits.

Adjusted Gross Income (AGI)

Adjusted gross income equals gross income reduced by adjustments to income. This is the amount of income before subtracting exemptions and the standard deduction or itemized deductions.
References in periodicals archive ?
AGI is defined as net farm income plus off-farm income with capital gains minus adjustments.
Observers at the Joint Readiness Training Center (JRTC) routinely note that ground units that track aviation like one of their own maneuver platoons are most successful in AGI. This requires ground leaders to include aviators in the planning and briefing process and to provide them with all mission details, including their intent and concept of operation for both ground and aviation elements, task and purpose, graphics and control measures, communication (commo) plan, and end state.
While AGI does periodic surveys of abortion clinics, in this instance its researchers relied on reports of state data to develop its estimates of national abortions for 2001 and 2002.
As discussed above, a main agenda of Study 2 was a replication of the AGI's psychometric properties in an independent sample.
According to Delany's Web site, AGI has annual sales of $20 million and employees 180 workers.
* While a separate return was advantageous for a contribution to the IRA of the spouse who earned less than $10,000, a separate return would preclude a deductible IRA contribution if each spouse earns more than $10,000 with total AGI below $50,000.
Once AGI exceeds the threshold amount by $122,501, or $272,501 if you are filing jointly, you lose your entire personal exemptions deduction.
AGI is the parent firm of Megaworld Corp., integrated gaming developer Travellers International Hotel Group, global beverage-maker Emperador Inc.
AGI said even its gaming and leisure operations under Travellers International Hotel Group Inc.
AGI CEO Kevin Tan said in a chance interview last week that project proponent Infracorp Development Inc.
Clyde Tillman, President of AccessGroup International (AGI), was instrumental in bringing the technology to the U.S.