{"id":53698,"date":"2023-01-20T00:04:00","date_gmt":"2023-01-20T00:04:00","guid":{"rendered":"https:\/\/businessyield.com\/?p=53698"},"modified":"2023-02-11T14:11:41","modified_gmt":"2023-02-11T14:11:41","slug":"modified-adjusted-gross-income-magi","status":"publish","type":"post","link":"https:\/\/businessyield.com\/family-helping\/modified-adjusted-gross-income-magi\/","title":{"rendered":"MODIFIED ADJUSTED GROSS INCOME (MAGI): How To Calculate It","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"
Basically, there are a number of tax breaks for which you are eligible, and you can determine this using your modified adjusted gross income. The way your modified adjusted gross income (MAGI) will be calculated will vary depending on the tax credit or government program for which you are applying. In order to be able to claim all the tax advantages for which you are qualified, you will need a basic understanding of how MAGI works. You also need to have a clear-cut understanding of the disparity between AGI and MAGI (Adjusted Gross Income vs. Modified Gross Adjusted Income) as well as how the notion affects medicare.<\/p>