Modified adjusted gross income, or MAGI, is a crucial tax term to know if you want to qualify for valuable tax benefits.

Rental property tax deductions allow you to claim the cost of repairs, maintenance, taxes, insurance, depreciation and any ...

The MAGI calculation starts with your adjusted gross income (AGI), and then you add back certain deductions or exclusions. MAGI determines your eligibility for a number of tax breaks, so it’s ...

The 'One Big Beautiful Bill Act' proposes a significant increase in the SALT deduction cap, potentially reshaping the tax ...

A new bill offers seniors a $4,000 tax deduction, partially fulfilling Trump’s pledge to end Social Security taxes. But the ...

All new car and truck buyers who take out a car loan won't qualify for the tax deduction. Much will depend on your income, ...

President Trump’s new tax plan promises a $4,000 break for seniors — but experts say it would really save most people about ...

AGI, of no more than $75,000 for single filers/$150,000 for married filing jointly.) Supporters say the change is meant to help older adults manage rising expenses, especially those living on ...

If the House provision is enacted, the SALT cap would rise to $40,000, up from $30,000 in the previous plan, and phase out ...

Experts agree that fully removing taxes on benefits would be far more costly. Garrett Watson, director of policy at the Tax ...

Prior to the Tax Cuts and Jobs Act (“TCJA”), there was no direct limitation on an individual taxpayer’s deduction of his or ...