Adjusted Gross Income

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Adjusted Gross Income

The term used for Income Tax purposes to describe gross income less certain allowable deductions such as trade and business deductions, moving expenses, Alimony paid, and penalties for premature withdrawals from term savings accounts, in order to determine a person's taxable income.

The rules for computing adjusted gross income for federal income tax may differ from the rules in a state that imposes a state income tax.

References in periodicals archive ?
1) The reconciliation incorporates personal income estimates for 1987-88 released in the July 1990 national income and product accounts revision, a final estimate of AGI for 1987, and a preliminary estimate of AGI for 1988.
Since its founding in 1989, AGI has enjoyed strong growth and has been named to numerous prestigious lists, including Aviation Week & Space Technology magazine's 2005 and 2006 Top Five Aerospace/Military Work Environments in North America, Inc.
A self-employed person who has paid for health insurance will have to compute a special AGI to be used on schedule EIC.
Unencumbered by industry norms and traditions, students are free to explore imaginative solutions to complex aerospace problems that may ultimately benefit the entire community," says Washington Wedderburn, AGI director of product management operations.
AGI Entertainment Media & Management is part of the Y Entertainment Group family of agency and management companies which include leading live music booking agency, Artist Group International, and the preeminent boutique literary agency, AGI Vigliano Literary.
AGI In-Store will be presented in market as RockTenn In-Store Solutions.
General Manager of AGI, Ra'ed Al-Raimouny, signed the agreement with General Manager of VARCC, Tala Abu Taha.
However, a change mode by the Tax Increase Prevention and Reconciliation Act of 2005 (TIPRA) now allows these taxpayers effectively to make contributions, even though their AGI exceeds these levels.
We designed our study to focus on this specific measurement because of highly reliable results in the animal literature showing that certain phthalates reduce AGD (and AGI) in rodents and because, as continuous variables, AGD and AGI would not require a large sample size to demonstrate this relationship, if it existed.
The Assafs each owned 50% of AGI Consulting, a limited liability company, which in turn owned a building it rented to attorneys, providing them with three services: office space, legal support services and consulting services.
District Court in Little Rock, said it sold AGI $1.