How is Social Security taxed? Changes for 2026 could impact your benefits

West Virginia is phasing out its tax on Social Security benefits. For 2025 returns (filed in 2026), 65% of benefits will be ...
Hosted on MSN

Modified adjusted gross income (MAGI): What it is, why it matters and how to calculate it

Modified adjusted gross income, or MAGI, might sound like just more tax jargon, but knowing how to calculate your MAGI is key to determining your eligibility for several valuable tax benefits, ...
Maryland Reporter

Modified Adjusted Gross Income Explained: How It Works and Why It Matters

If you’ve ever stared at a tax form and wondered why the same year produces two different “income” numbers, you’re in good company. Taxes can feel like assembling a puzzle with a few extra pieces ...
Kiplinger

Ask the Editor, October 31: Modified Adjusted Gross Income

Question: I keep seeing references to modified adjusted gross income in stories about federal income tax breaks. What is modified adjusted gross income? Joy Taylor: The IRS and other federal agencies ...
Young and the Invested on MSN

The Social Security tax puzzle: Your 11-point guide to avoiding Social Security taxes

Like many Americans who have reached retirement age, you might be surprised to learn that Uncle Sam can tax your Social ...
abc7NY

From 'withholding tax' to 'adjusted gross income': Tax season terms for beginners

"Withholding." "Adjusted income." "Standard deduction." With Tax Day approaching, many new to the workforce are searching for explanations to help them make sense of all the lingo. Shannon McLay knows ...
AgWeb

It’s Tax Time: Your Guide To Calculate Farm Income This Year

Various farm programs as established by the Farm Service Agency have various limits based on the farmer’s adjusted gross income (AGI). However, some of these programs also allow for either a double ...