X

AGI meaning in Accounts and Finance ?

( 5 )  .  1 Rating
390 views   .  0 comments  .   . 

Download Solution PDF

Answer: What is Adjusted Gross Income mean?

In the United States income tax system, adjusted gross income (AGI) is an individual's total gross income minus specific deductions. It is used to calculate taxable income, which is AGI minus allowances for personal exemptions and itemized deductions. For most individual tax purposes, AGI is more relevant than gross income.

Gross income is sales price of goods or property, minus cost of the property sold, plus other income. It includes wages, interest, dividends, business income, rental income, and all other types of income. Adjusted gross income is gross income less deductions from a business or rental activity and 21 other specific items.

Several deductions (e.g. medical expenses and miscellaneous itemized deductions) are limited based on a percentage of AGI. Certain phase outs, including those of lower tax rates and itemized deductions, are based on levels of AGI. Many states base state income tax on AGI with certain deductions.

Adjusted gross income is calculated by subtracting Above-the-line deduction from gross income.

reference
Full Form Category
Italian Geophysical Association Academic & Science
Associazione Geofisica Italiana Academic & Science
Artificial General Intelligence Academic & Science
Academic Global Immersions Academic & Science
American Geological Institute Academic & Science
Above Ground Installation Academic & Science
Associazione Geotecnica Italiana Academic & Science
Italian Geotechnical Association Academic & Science
Accounting Group International Accounts and Finance
Adjusted Gross Income Accounts and Finance
Wageningen Airport Code
American Grippers Inc Business
Alpha Genesis Inc Business
Annual Gross Income Business
Alpine Group, Inc. Business
Association for Geographic Information Business
Aggregated Gross Income Business
Agi Business
Alamos Gold, Incorporated Business
Ainsworth Game Technology Ltd Business
Alamos Gold Inc Business
Advanced Geosciences Inc Business
Alan Guttmacher Institute Community
Advanced Global Imaging Computing
Address Group Identifier Computing
Advanced Grid Infrastructure General
Achievement Gap Initiative General
Audacious Goals Initiative General
Angus Genetics Incorporated General
Amplified Geochemical Imaging General
Advanced Geant Interface General
Adventures Game Interpreter General
Intellligence Collector ship (Auxiliary, General, Intelligence) General
Auxiliary General Intelligence General
Alliance Graphique Internationale Governmental
Accredited Gemological Institute Governmental
Allan Guttmacher Institute Governmental
American Geosciences Institute Governmental
Arizona Genomics Institute Governmental
American Gunsmithing Institute Governmental
American Graphics Institute Governmental
Accredited Gemologist Institution Governmental
AMGURI Indian Railway Station
Alliance Ground International International
Artist Group International International
Architectural Group International International
Advanced Ground Instructor Jobs
Alpha Glucosidase Inhibitor Medical
A Grand Idea Messaging
Advanced Geospatial Intelligence Military and Defence
Annual General Inspection Military and Defence
Address Generation Interlock Networking
Asterisk Gateway Interface Networking
Association of Ghana Industries Regional
Analytical Graphics, Inc. Softwares
Applications Graphics Interface Softwares
Adventure Game Interpreter Sports

Take Quiz To Earn Credits!

Turn Your Knowledge into Earnings.




Give Rating
Report
Write Your Comments or Explanations to Help Others
Comments(0)





Miscellaneous in Accounts and Finance
Miscellaneous in Accounts and Finance

Ever curious about what that abbreviation stands for? fullforms has got them all listed out for you to explore. Simply,Choose a subject/topic and get started on a self-paced learning journey in a world of fullforms.

Explore Other Libraries

X

Important Accounts and Finance Links





Copyright (c) 2021 TuteeHUB

OPEN APP
Channel Join Group Join