How Do Tax Brackets Work?
Tax brackets help determine your taxes owed-let's take a look at how they work!
ReadAdjusted Gross Income, or AGI, is your total gross income minus any specific deductions. Those specific deductions might include IRS contributions, student loan interest payments, self-employment tax, and health savings account contributions. Calculating AGI is the first step toward figuring your taxable income, and AGI is also used to determine eligibility for certain tax breaks.
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