In 2025, the Income-Related Monthly Adjustment Amount (IRMAA) surcharges for Medicare premiums will continue to impact high-income beneficiaries. If you are a married couple filing ...

This is in addition to the inflation adjustment described below. Modified adjusted gross income limits of $200,000 for single filers and $400,000 for joint filers apply to get the full amount.

The $7,500 federal tax credit for EVs has income requirements, but car salespeople aren't accountants, so double-check that you're eligible before driving off the lot.

Contribution limits are not reduced to a Roth or traditional IRA based on 401(k) participation, so maximize contributions if ...

As tax season picks up steam and you are looking at tax year 2024 in your financial rearview mirror, you could save money on ...

I am confused by an article in my local newspaper which said that “MAGI” (modified adjusted gross income), on which my ...

With CollegeBoard reporting rising full-time undergraduate tuition rates for the 2024-2025 school year, college expenses can ...

By Russell Gloor, National Social Security Advisor at the AMAC Foundation, the non-profit arm of the Association of Mature ...

AGI vs. MAGI: Key Differences Modified adjusted gross income (MAGI) and adjusted gross income (AGI) are both important figures in the U.S. tax system, but they have distinct purposes and calculations.

The Child Tax Credit for 2024 is a tax benefit that provides financial relief to families with qualifying dependent children.

Deductible IRA contributions are completely phased out for joint filers with Modified Adjusted Gross Income (MAGI) over $146,000 if they also have a workplace retirement plan. Taxpayers with no ...