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Adjusted Gross Income


Adjusted gross income: In the United States income tax system, adjusted gross income is an individual's total gross income minus specific deductions. Taxable income is adjusted gross income minus allowances for personal exemptions and itemized deductions. For most individual tax purposes, AGI is more relevant than gross income.

Printed dictionaries and other books with definitions for Adjusted Gross Income

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Google previewThe Wolters Kluwer Bouvier Law Dictionary (2015)

Quick Reference by Stephen Michael Sheppard


Google previewNolo's Plain-English Law Dictionary (2009)

by Gerald N. Hill, Kathleen Hill

adjusted gross income (AGI) adjusted gross income (agi) is gross income from taxable sources (including wages, interest, capital gains, income from retirement accounts, alimony received) minus allowable deductions, such as ...

Google previewDictionary of Legal Terms, 5th edition

by Steven H. Gifis

ADJUSTED GROSS INCOME the gross income of the taxpayer ...

Google previewPersonal Finance: An Encyclopedia of Modern Money Management (2015)

An Encyclopedia of Modern Money Management by Barbara Friedberg

Adjusted Gross Income (AGI) —The AGI, also referred to as net income, is calculated after completing one's income tax return. It refers to the amount of earned income that is taxable. The Internal ...

Google previewAmerica Goes Green: An Encyclopedia of Eco-Friendly Culture in the United States [3 volumes] (2012)

An Encyclopedia of Eco-Friendly Culture in the United States by Kim Kennedy White

The Adjusted Gross Income (AGI) provision of the 2008 Farm Bill impacts eligibility for GRP. Individuals or entities that have an average adjusted gross nonfarm income exceeding $1 million for the three tax years immediately before the year the contract is approved are not eligible to receive program benefits or payments. However, an exemption is provided in cases where two-thirds of the adjusted gross income is derived from farming, ranching, or forestry operations. Eligible land ...

Google previewHopkins' Nonprofit Law Dictionary (2015)

by Bruce R. Hopkins

adjusted gross income The term “adjusted gross income” means gross income less certain expenses, such as alimony payments, certain moving expenses, and certain business expenses (IRC § 62(a)). Thus, adjusted gross income is gross income that is adjusted to take into account certain costs of acquiring or transferring income. The reason for the concept of adjusted gross income is to provide a fair basis for the allowance of noneconomic personal expense ...

Google previewAn International Dictionary of Accounting and Taxation (2004)

Twelve Thousand Plus Entries on Accounting, Auditing and Taxation in the United States, Canada, United Kingdom and Australia by Guy Wanjialin

adjusted gross income adjustment adjusted gross income (AGI) a taxpayer's gross income minus above-the-line deductions. Also: net income. adjusted gross profit under standard absorption costing,the net sales minus the standard cost of goods sold, then plus or minus cost variances. adjusted historical cost = adjusted acquisition cost. adjusted income method a method of presenting adjusted earnings as income figure in the income statement. adjusted investor equity cash invested ...

Google previewThe Entrepreneur’s Dictionary of Business and Financial Terms (2013)

by Khwaja Masoom

(Also see Adjusted Gross Income.) Gross Interest: Interestearned before taxes are deducted. Gross Investment: The total value of all investment goods produced in the economy during a stated periodoftime. Gross Lease: As opposed toanetlease, a grosslease isone where the tenant isresponsible for either none ofthe increase in operating expenses ofthebuilding, or onlythe amount above a stop. If a base or stop isinvolved, thelease is sometimesknown as a modified gross lease.

Google previewDictionary of Film Finance and Distribution (2013)

A Guide for Independent Filmmakers by John W. Cones

For a business, adjusted gross income is determined by sub' tracting from gross income any unreimbursed business expenses and other deductions (see “ income tax”). adjusted rate of return (ARR) * A meth/ od of calculating the anticipated rate of return on an investment that is useful in evaluating all of the economic benefits of an investment and in comparing investments. ARR is the rate that equates the total future value of the economic benefits to the present value of the investment ...

Google previewDictionary for Business & Finance (1995)

by John V. Terry

adjusted gross income 1.

Google previewDictionary of Financial Terms (2007)

by Virginia B. Morris, Kenneth M. Morris

Adjusted gross income (AGI) Your AGI is your gross, or total, income from taxable sources minus certain deductions. ADJUSTED GROSS INCOME Grossincome – Special deductions ADJUSTED GROSS INCOME 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, ...

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