Learn more about common financial (and startup) terms here. To learn more about Pilot, fill out the form below.
Adjusted Gross Income (AGI) is a measure of income calculated from your gross income and used to determine how much of your income is taxable. It's the total income you receive over the course of the year, including wages, interest, dividends, and capital gains, minus specific deductions.
The IRS uses AGI as a starting point to calculate your tax liability. Deductions subtracted from gross income to determine AGI can include certain business expenses, contributions to a qualified retirement account, alimony, and more. Your AGI determines your eligibility for certain tax credits and deductions, including the child tax credit, education credits, and itemized deductions.
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