What Is AGI And How Does It Affect Your Tax Bill?
Do you know your AGI? Every American taxpayer has one, and it affects everything from which tax credits they can access to whether or not they receive economic stimulus checks during times of crisis. So, what is AGI and how can you ensure yours is optimal? Here are a few answers. What Is AGI? AGI is an acronym for Adjusted Gross Income. Adjusted gross income is essentially your gross income from all sources (such as wages, a side business, and investments) minus certain allowed deductions.