What is adjusted gross income (AGI), and why does it matter?
Your adjusted gross income, or AGI, is your gross income minus a handful of items. Here’s how it works.
3 min read
Apr 17, 2025
Anna-Louise Jackson
Anna-Louise Jackson is a contributor to Bankrate, covering taxes and personal finance. Jackson's career began about 15 years ago at Bloomberg, where she covered financial markets and the economy. She's since written about personal finance topics for CNBC, The Associated Press, The Wall Street Journal, Time, Money, NerdWallet. Her reporting has also been published by Bloomberg Businessweek, Fast Company and Success. Jackson enjoys making complex topics more understandable for readers.
Anna-Louise's latest articles
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Mistake on your tax return? Form 1040-X to the rescue
If you made a mistake on your tax return, Form 1040-X will help you fix it.
4 min read Apr 12, 2025 -
Alternative minimum tax 2024-2025: What it is and who has to pay
The AMT, or alternative minimum tax, has its own set of tax rates and rules. Here’s how it works and how to calculate your bill.
3 min read Apr 08, 2025 -
The SALT deduction: What it is, how it works and what you should know about the $10,000 cap
The SALT deduction lets taxpayers deduct the money they spend on state and local taxes — up to a limit.
4 min read Apr 07, 2025 -
These 5 states don’t levy sales tax, but watch for other taxes
Five U.S. states don’t charge sales tax, but there are other taxes to watch for.
3 min read Mar 18, 2025 -
Section 179 deduction vs. bonus depreciation: How they work, how they differ
The Section 179 deduction and bonus depreciation both let businesses write off expenses quickly. Here’s what you need to know.
6 min read Mar 05, 2025 -
American Opportunity Tax Credit: What it is, who qualifies, how to claim it
The American Opportunity Tax Credit is worth up to $2,500 if you’re paying for qualified educational expenses for yourself or a dependent.
4 min read Feb 23, 2025 -
Self-employment tax: What it is, how to calculate it
If you work for yourself, you’ll likely have to pay self-employment taxes in addition to income taxes. Here’s how it works.
4 min read Jan 23, 2025